$ETH Evening Thoughts:
Talking about the chart: The wedge on the 2nd contract hourly level has been broken, and it has also tested the upper boundary support of the wedge effectively. Looking at the yellow bullish acceleration line indicated by the white arrow, as long as it does not break below this bullish acceleration line, the 2nd contract hourly level will keep moving up along this acceleration line. If 4667 is broken, the 2nd contract will accelerate upward. Why will the 2nd contract accelerate upward after breaking 4667? Because 4667 is the starting point of this downward move of the 2nd contract and also the point where support and resistance switch. Once resistance is broken, it will surge.
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For the 2nd contract, chase the buy on the right side after breaking 4613 with volume, and chase the sell on the right side after breaking 4567 with volume to catch the pullback. Pay attention to the changes in volume and set your stop loss well.
The 2nd contract hourly level needs to stabilize above 4612 looking upwards to 4667-4732. If it cannot hold above 4667, you won’t see 4732.
At the 4-hour level, if 4564 breaks down, look down to 4536-4498. If it breaks below 4498 and doesn't recover in time, the 2nd contract will need to undergo a 4-hour level correction.
Continuing to look at the chart: The pattern drawn in the 2nd contract 4-hour level chart is a bearish Gartley pattern. The D point of the Gartley pattern is a potential reversal zone and also where you have a lot of longs; if you don’t have longs, you can speculate on short positions. If the 2nd contract 4-hour level engulfs the bearish candle indicated by the yellow arrow, the 5000 2nd contract might show itself in this wave. After the US stock market closes early this morning, Nvidia's earnings report will be announced, so try not to leave orders overnight to avoid waking up to a stop loss and not knowing what happened. Meeting adjourned.