$ETH Evening Thoughts:
Speaking through the chart: Before the second contract breaks the yellow bullish trend line drawn in the chart, your long positions are in a safe state; if it breaks, then you should leave, there's nothing worth staying for.
The second contract has once again challenged the resistance level of 4370 and has failed to break through. Additionally, it has formed two upward pins on the hourly level, indicating that there is significant selling pressure at 4370 that is not easily overcome. If it attempts again and still cannot break through 4370, the second contract will need to pull back downward to gather strength, waiting for the energy to be full before pushing up; otherwise, the half-bar of energy cannot move.
On the hourly level, the second contract has formed a W-bottom pattern. For the W-bottom to be valid, it must break through 4370; without breaking through 4370, the W-bottom cannot be established. Only after breaking through can the second contract initiate an upward trend on the hourly level.
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For the second contract, chase the long position on the right side with volume breaking 4329, and chase the short position on the right side with volume breaking 4250. Pay attention to changes in volume and set your stop-loss properly.
The second contract stands firmly above 4324 looking upwards towards 4370-4424.
On the 4-hour level, breaking below 4254 looks downward towards 4192-4149; if 4192 is broken, the second contract will start another 4-hour level correction.
Continuing to look at the chart: As long as the second contract does not break below the bullish candle indicated by the white arrow on the weekly chart, it is not weakening from the weekly perspective, just undergoing a normal correction. Once it breaks below this bullish candle on the weekly level, forming a bearish engulfing pattern, just think about how powerful a bearish engulfing pattern on the weekly level would be. Meeting adjourned.