$ETH The trend is weak, but looking at the pattern, after the short-term fluctuations end, there is a high probability of a bullish wave, so shorting now does not have a good risk-reward ratio. One can enter long at the current price of 2830-2800 to catch a rebound, with the expected upper target around the 2930-2960 range. Once the rebound reaches this position, one can close the long position and reverse to short.
Moreover, from the 4-hour chart, the trends in the past few days are quite similar, basically showing accelerated declines followed by a rebound before continuing to drop. Therefore, after another round of accelerated decline, the smaller time frames need to digest some indicators. If there is a rebound, that would be better. If it directly moves sideways to digest the rebound, I will prompt to exit long positions at that time. This is the current thought process: go long to catch a wave and then reverse to short.
