8.28 Early Morning Silk Road

Overall, the four-hour chart shows that the market rose from the lower track with consecutive bullish candles to the middle track, where it encountered resistance. After that, it adjusted and broke through the middle track with insufficient momentum. Currently, it is in a wave-like pullback, with the middle track acting as resistance, which has been clearly stated before.

It is highly probable that this trend will continue into midnight: as long as the middle track holds, the main tone of decline remains unchanged. Moreover, the upper track is clearly narrowing downwards, with high points moving lower, indicating that bullish strength has been released; therefore, the operation should focus on short positions.

Ethereum: Short in the range of 4660-4700, target 4550, if it breaks, look at 4400, each should maintain good defense. If anyone does not understand the trend direction, don’t worry! Luyao shares directional strategies every day, so everyone just needs to pay more attention. $BTC $ETH $XRP #ETH走势分析 #机构筹资布局SOL #特朗普罢免美联储理事库克 #比特币远古巨鲸持续出清 #美联储降息预期