First, let's get to the conclusion: Ethereum may be experiencing a false breakout, truly trapping investors.

I have taken a snapshot of the Ethereum candlestick chart from November last year to March this year, where Ethereum rose from 2400u to 4000u, forming a double top near 4000u and then heading south without looking back.

I believe that the main force didn't sell all their holdings during the first peak, pulled back for two days and then made another rally. On December 17, there was a false breakout signal during the day, leaving a long upper shadow at the close. This was followed by three days of increased volume with black three soldiers, and since that day, it has been downhill.

The market trend from January to June last year also showed a similar pattern, where it rose to a relatively high point, had a second rally with a false breakout, and then went south. However, each time during the decline, there was a long lower shadow, indicating a quick rebound, which often suggests that it has entered a bottom range.

Currently, I am more inclined to think that Ethereum's trend is at a phase top rather than a rising continuation. I don't want to take unnecessary risks; the next opportunity may have to wait until the third quarter to see if the Federal Reserve can inject liquidity. What if I'm wrong? Just chill 🤪, this is for personal record-keeping, not investment advice #Eth #BTC