8.22 Early Morning ETH Analysis

All support and resistance from yesterday have been realized, and we have perfectly captured nearly 200 points of space!

The 4-hour Bollinger Bands are narrowing, with strong resistance at 4370. There was a brief breakout in the morning followed by a pullback, and the KDJ lines are diverging downwards; however, the 12-hour MACD is about to break the bearish arrangement and return above the 0 axis, indicating that the main force is continuously accumulating at low levels, a typical convergence brewing a breakout! Therefore, the subsequent strategy remains unchanged to buy on dips.

For aggressive traders, buy directly near 4230; for conservative traders, refer to the second chart to buy in batches at 4180 and 4080. Short-term target is 4470, while the swing target is 4800-5000.