$ETH 8.23 No. 7:01; Current price of Ethereum 4815.20, having retreated from the historical high of 4888.49, the market has entered the pullback confirmation phase after the breakout. For those holding no positions, this is undoubtedly a key moment of high risk and high reward.

Being out of the market is actually an advantageous position; there’s no need to rush to take a position. One should use a limit order strategy, placing buy orders around the support level of 4780 to catch the trend continuation, while placing sell orders near the previous high of 4900 (betting on a double top pullback). This way, regardless of which side breaks out, one can capture the market movement without being troubled by direction.

The key is position control! With such high volatility now, it is not recommended to exceed 5% of the total position per trade, and entering must always include a stop loss.

Key levels:

Upper resistance 4888 previous high → psychological round number of 5,000.

Lower support 4821 MA25 → 4772 consolidation platform low → 4700 Fibonacci 23.6% retracement level, psychological support.

Current price 4815 operation strategy, for those holding no positions, the core of the current strategy is to abandon the head and tail of the fish and only eat the body, utilizing the key support level during pullbacks for phased positioning, never chasing highs.

❶ Strategy for phased buying on pullbacks: staggered orders to avoid a heavy position all at once.

First order 4810 - 4820, near current price, MA25 support position 3%.

Second order 4770 - 4780, previous platform support, position 5%.

Third order 4700 - 4720, strong support, position 7%.

Stop loss at 4680, an effective drop below 4700 means a deeper pullback, and the trend may weaken, so a stop loss is a must.

Target 4880 → 5000 entry logic, after a historic breakout, the first pullback to the previous resistance level (now turned support) is a high probability long opportunity.

❷ Strategy for rebound betting on pullbacks, this is a short-term strategy against the minor trend and in line with the major trend, operations must be decisive.

Entry point price rebounds to the 4860 - 4880 previous high area, showing signs of stagnation such as long upper shadows. Stop loss at 4920 breaking new highs, target 4780 for quick profit.

Entry logic, betting that the market will test the historical high a second time and fail, leading to a deeper pullback. This strategy carries higher risk and requires quick entry and exit.

Strictly set stop losses for all long positions at 4680, and for short positions at 4920.

Maintain patience, if the price doesn’t pull back and goes up directly, it’s better to miss out than to make a mistake; never chase highs. The market is always full of opportunities, but lacks capital.