Currently, ETH is in a high short position on the 3-day and 2-day lines, with divergence on the daily line.

Internally, there is an independent rebound trend on the 4-8 hour level, with wide fluctuations within the 2-day line.

From the candlestick chart, we can observe resistance at 4780-4851-4897 above, and support at 4701-4668-4613-4551 below.

Currently, the ETH long-short ratio is 1.03, market fear index: 47, real capital ratio 70:30, and the overall long-short ratio is 47:53.

In terms of operation, Lao Wang suggests positioning for long at lower levels, following the trend. For short-term operations, we can enter and exit quickly once we have profit space; do not be greedy!

Aggressive friends can position for longs around 4715, while conservative friends can set up longs below 4700, and the exit points should be reasonably planned based on individual positions for those who have entered.

Do not act without a clear pattern; do not open positions without a stop-loss.