Ethereum View: Reference Daily K

Yesterday mentioned that the liquidity in the area of 3380-3400 needed to be swept away, and it was mentioned that if it holds, go long; if it doesn't hold, do not open a position. This is the charm of the right side. Although the risk-reward ratio is not as high as left-side limit orders, the risk can be greatly reduced. If a long position was opened last night with a stop loss, that would be fine; if not, given such a deep drop, there is a high probability that it could be lost.

Currently, looking at the market, after breaking below 3380-3400, a resistance zone has formed. This area can be considered as the first point to short.

Conversely, if it strongly breaks above and does not retrace, then I will take a short-term long position, targeting the level of 3636. This level can also be regarded as the second point to enter a short position.

Ethereum's decline is much larger than Bitcoin's, so if I want to bottom fish in the spot market later, I will prioritize considering the head and shoulders bottom position below, or the Fibonacci 0.618 level #ETH .