$ETH
The overall direction of ETH belongs to the end of the pullback, and if it goes down further, the space is not very large.
From the overall trend, the complete wave of 4h has finished, and it has retraced to the 1.618 level, which is the previously mentioned 2928. Whether the daily pullback can go down further is debatable; even if it continues down, it would only be a few hundred points.
Both the 4h and daily charts are generally below the middle track, which is not a big issue. The daily position has retraced to the 0.816 level, and the space for further decline is limited. Just wait slowly for a bounce back after buying at 2900.
Chart 1 shows the 4h pattern, which is approaching the middle track position, having retraced to the 1.618 level at most. Chart 2 shows the daily pattern, having retraced to 0.816, with limited space at the 1.0 level, which is not necessary to focus on.
Chasing highs and cutting losses is a major taboo; grasping the trend is key. The first target point is likely to be reached, while the probability of the second target point is lower. If you want significant gains, you must take big risks. Technical analysis only increases the probability of estimating trends; the key is still accurately capturing the entry point.
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