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5.16 Market Overview: $ETH Long positions profited while short positions slightly defended

Last night, Ethereum long positions entered at 2499 and exited at 2585, accurately taking a profit of 86. The defense for short and long positions was at 2610, with a high of 2618 breaking the narrow defense by 8 points; overall, the two long and short positions are still reasonable and meet expectations.

Observing today's current market, ETH is forming an ascending triangle, and whether it will form a V-shaped reversal is uncertain; we can still make long positions around the lower trend line, entering on dips; the ascending trend line and descending trend line resonate at the position of 2542.45, which is also our left-side long entry position, with a defense at 2514 and targets at 2585 and 2610; on the right side, we can wait for a pullback to create demand that does not break down or breaks down and then rebounds for a trend-following long entry; left-side ambush for high shorts can be set in the range of 2638, 2645, and 2664.

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