ETH Midnight Ramblings

Night owls, still awake at midnight? Then come sip on some ETH 'hot soup,' and hurry back to catch some sleep!

First, a big picture

On the 4-hour chart, ETH just broke the top of a symmetrical triangle yesterday, ideally the bulls should be partying, but the upper Bollinger band at 4854 is blocking the entrance like a security guard: 'Hey buddy, hold off on the partying for now.' So the price was pushed back, and the volume didn't keep up, much like me after working late into the night—wanting to have fun but feeling drained.

Indicators are also sluggish

The 30-minute RSI slid from 70 to 50, just cooling down;

MACD red bars are getting shorter day by day, and the short-term needs to crouch before jumping.

In short: momentum is slacking, needs a pullback to sustain life.

On the 23rd, there was a net outflow of 230 million dollars in spot trading, sounds scary, but it's just large holders withdrawing to cold wallets, not much selling pressure; they’re just too lazy to pump it tonight: remote control in pocket, will discuss tomorrow morning.

Conservatives: turn off the computer and go to sleep, check back tomorrow morning.

Mu Xin's view is still around 4780–4810! First look at 4860, then at 4900; stop loss at 4760, if it breaks, bail out.

The market is like late-night takeout: too hot to eat, too cold makes you sleepy. Set your stop loss, close your eyes and hit 'timed liquidation,' and when you wake up tomorrow, it will either be a new high or a new pit, anyway staying up late won’t earn you extra money.

Alright, I'm going to brew my second pack of instant noodles, you all keep an eye on the market and take it easy. #ETH走势分析