The overall pattern of the ETH daily level high-position oscillation box has not yet been broken, but yesterday's quick drop has clearly tilted the local trend structure towards bearish. Under the current daily sideways consolidation situation, the signal for further downward trend reversal is gradually strengthening.
From the perspective of 4H and higher level trends, the current price is at the end of the sideways consolidation cycle, and the probability of continued downward movement is higher; even if there is a short-term rebound in the local area, it is mostly of a false long nature, with both the strength and sustainability of the rebound being weak, making it difficult to change the overall downward trend. If you want to seek a safer entry opportunity, it is recommended to wait for the 4H level to refresh the low point before making a layout, as this time the risk coefficient is lower.
In terms of operational strategy, it is important to note: for investors holding long positions, it is advisable to find an opportunity to exit within 24 hours, and the current long position should be reduced immediately, as it is not suitable for long-term holding—if this time window is exceeded, there is a high probability that the market will generate a new downward wave, significantly increasing the holding risk.
Key reference points are as follows:
- Short-term resistance: 4300, it is not recommended to layout long positions at this 📍 to avoid the risk of betting on a rebound;
- Short-term support: 3980, this 📍 can be used as the primary support observation point for the short-term market;
- Second support: 3680, this 📍 is not currently in the operating area of the market, only applicable as a reference point for grabbing short-term rebounds during a sharp decline. $BTC