8.23 Ether Early Morning Silk Road

If Ether did not reach our early morning Silk Road target entry point yesterday, it still moved in and out synchronously with Bitcoin, rising from 4200 all the way to 4860, a 660-point gain.

With a single "dove" remark from Old Bao, ETH acted like a powder keg, instantly rising by 10%, with a big bullish candle on the daily chart pushing directly to the previous high, and the trading volume simultaneously increasing, with buy orders queuing up to enter. At this position, as long as there is a strong bullish candle with increased volume on the intraday chart, it can officially declare a breakout, with the next resistance level being the peak of the previous bull market, breaking through it will completely open the vacuum area above.

The weekly perspective is clearer: considering the end of 2022's 1385 as the starting point of the first wave, the strong three-wave structure reaching 4100 is standard and aggressive. According to equal amplitude calculations, the ultimate target is just around 6700—this was the medium-term script given by Lu Yao two months ago. As for the outside chatter of 15,000 or even 20,000, don't get too excited; that's a later discussion and must wait until 5600 stabilizes before we talk about it.

In summary: during the bull market phase, don’t guess the top, and don’t get itchy and short. Hold the good chips in the direction, dare to add on dips, dare to chase on breakouts, and leave the rest to the trend.

Ether: Long in the 4650-4700 range, target 4800, if broken, look to 4900, each strictly manage their own defenses. $BTC $ETH $ETH #杰克逊霍尔会议 #美国初请失业金人数