$ETH Evening Thoughts:
Talking about the chart: The triangle at the hourly level for the second contract has been broken, and it is currently retesting the upper boundary of the triangle. If the upper boundary can hold, the second contract will continue to walk along the upper boundary in a fluctuating upward trend to challenge the resistance level of 4370 again. If the upper boundary cannot hold, and it breaks below 4232, there will be a second retest of the lower level at 4160.
🐛
For the second contract, enter long on a volume breakout at 4288 on the right side to catch the rebound, and enter short on a volume breakdown at 4260 on the right side. Pay attention to changes in volume and set stop-losses carefully.
The second contract must stabilize above 4336 to look up at 4373-4422; if it cannot stabilize at 4373, it will be difficult to continue the upward trend.
At the 4-hour level, if it breaks below 4250, look down at 4164-4073. If 4164 cannot hold, 4073 will also be under pressure.
Continuing to look at the chart: The position circled in yellow at the daily level for the second contract is a bullish engulfing pattern. Although the engulfing is a bit small, it is indeed a bullish engulfing pattern. As long as the second contract does not reverse the bullish engulfing pattern on a pullback and does not break below 4067, it will not continue to decline. If it breaks below 4067, 3880 will come; if it really reaches 3880, I don't know if the market will panic. In a panic, everything could be sold, and 3880 may not hold. Pay attention to the gains and losses at 4067, and the meeting is adjourned.