Saturday Evening, Analysis of Big Pancake's Ethereum Thought Process
After a continuous rise in the four small levels, there is a local correction. The current space is small and belongs to a strong horizontal consolidation correction method. The daily and weekly charts are expected to further break higher. Pay attention to the resumption of volume after this short pause in consolidation. After the consolidation on Saturday and Sunday, we will reach a time volume node; the duration of consolidation in a strong trend usually lasts no more than three.
The 4-hour chart shows a strong rise followed by a bearish pullback consolidation. In the short term, the pullback is only to build sufficient momentum for the next bullish rally, allowing the indicators to be corrected. Over the next couple of days, further high-level consolidation is not ruled out, and the pullback is also a slight retracement confirmation. The continuation of the strong upward trend means that future operations should combine intraday patterns, observing the strength of the correction. If there is a strong consolidation correction followed by a direct rise, adjustments for entering long positions will be necessary. The main strategy is to maintain a buy position on pullbacks.
BTC Short-term: 838–84000 Short, Target 825
