$ETH Evening Thoughts:
Looking at the chart: The second pancake is still operating within the box at the hourly level, and it has broken through the middle line of the box. If it pulls back and does not break below the middle line of the box, we will look at the upper boundary of the box at 4851. If it breaks below the middle line of the box but does not break the box itself, it will continue to oscillate within the box. Only when it breaks out or breaks down will it show a direction.
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The second pancake should be pursued with volume when breaking above 4780 on the right side, and a short position should be pursued when breaking below 4749 with volume on the right side. Pay attention to changes in volume and set your stop-loss accordingly.
At the hourly level, if the second pancake stabilizes above 4768, we will look upward towards 4802-4819. If the first pancake does not rise, it will be difficult for the second pancake to have an independent market.
At the 4-hour level, if it breaks below 4691, we will look downward towards 4661-4603. If 4691 breaks and cannot recover, the second pancake will need to undergo a correction.
Continuing to look at the chart: According to Fibonacci, the second pancake should pull back to the Fibonacci 1:1 correction target, which is 4595. This position is also the starting point for the second pancake to break a new high. A pullback here would be more beneficial for the future rise of the second pancake. I have finished speaking; those who agree, please raise your hands; those who disagree can leave the meeting.
