$ETH
Previously placed an order at 2610 to bet on the downward phase, but it got pushed to 2620, which became the temporary bottom of this wave of decline, rebounding to 3070, a four hundred point move. Later opened long at 2860, rolled over at 2970, took a breakeven loss at 2910, originally was very confident it would reach 3100. As a result, the four-hour and one-hour charts showed a double confirmation of a bearish naked candle, hitting the breakeven, breaking below the one-hour EMA, repeatedly failing to hold above the EMA, and then went short, and last night the short position was hit with a loss.
Currently, the market liquidity is very poor; a market with poor liquidity will experience slightly wider fluctuations, hunting for stop losses, inducing long and short positions. Essentially, it was that the initial order missed by 10 points, forcing a slightly higher long position, and the error margin was lowered, so it could only maintain the breakeven. Also got tricked into a short, so I say: eth, I am really frustrated with it.
Let’s talk about the market: the four-hour MACD for eth has become very ugly, heavily bearish, merely waiting to see if the daily line can withstand the resistance at 3100 in the middle track. If the resistance is strong, we will need to look for short positions at the four-hour level. The downtrend is still present, and very early on, when I saw 2650, I mentioned that 2610-2590 would be the weekly support, and there would be a rebound; it's just that due to various reasons, I missed it. The first resistance for the rebound is around 3100.
To put it simply, the 3100-3070 range is facing resistance on the four-hour chart. If tomorrow or the day after, the daily line shows resistance around 3100, we will still need to find short positions at the four-hour level, shorting below 2600. If it breaks below 2600 and stabilizes, then it will be at 2100. As long as the entity breaks below 2600, there is a high probability that within the next three months, you will see Ethereum starting with 1.