Review: Starting at 8 PM tonight, Ethereum and Bitcoin underwent a technical rebound adjustment as expected from the daytime analysis. From the 12-hour chart, this rebound is essentially a gap repair on the 12-hour line. You can currently see that the high point of this rebound just hit the MA5 daily average line, indicating that the gap has been repaired. However, the TD13 on the 4-hour chart for Ethereum has not been repaired, and the current TD13 is still in a lagging phase. So keep in mind that if we look at the 12-hour line, the rebound sentiment has already been completed, but the 4-hour TD13 has not finished its repair. Therefore, there may still be a second wave of connections in the short term during the early morning (remember that the intensity should not be too strong). Use the previous support range of 3435-3538 as a reference for short-term strong pressure; the short-term rebound is partly for technical repair and partly to test the strength of resistance after support turns into pressure.
On the daily chart, the current technical changes are minimal. Compared to the daytime, the only difference is that BOLL is undergoing a breakout repair. However, aside from this, all other indicators continue to show downward pressure (although there is currently a gap between the coin price and MA5, I personally believe Ethereum will wait until the daily update at 8 AM to actively repair its indicators. Therefore, the gap issue on the daily chart is not too significant). If the overall trend during the early morning is primarily oscillation, then after the daily update tomorrow morning, Ethereum will likely continue to decline in volume after 8 AM or noon. I personally believe there won't be any major fluctuations this early morning, so it's best for everyone to rest without positions.
The issues present on the 12-hour and 4-hour lines have already been analyzed in the review section. Now we need to see if the 12-hour MA5 can contain the strength of this rebound. Because during the day, the price of Ethereum basically made a probe around the 3000 mark (the actual touched price was around 3100), today's decline can actually be seen as a significant level of a monthly bottom repair. Now we need to see if the pressure line can contain it. If the pressure line is effectively broken, it indicates that this major monthly adjustment has been completed and the risk of a trend change is lifted; conversely, if the pressure line cannot be effectively breached, Ethereum will continue to explore lower key support around the 3081-2959 area.
For individual short-term trading, I still recommend taking one step at a time. The market changes frequently, especially in the short term, so we must be rational in our trading and not get too carried away. For now, we'll pause here and wait for the updates on the market analysis during the day.
A final friendly reminder: The weekend market fluctuations are quite different from those during the weekdays, and many technical patterns and market fluctuations will also exhibit differences. Please try to rest without positions tonight and control your actions!
