$ETH surged to 2800 and then to 2834, it looks scary but do you dare to chase it?
First, let's look at two issues: the price has risen, but the trading volume has not kept up at all, which indicates that there is no real money backing it!
Next, looking at the technical indicators, the MACD's DIF line has started to turn downward, and the red bars are also shortening, indicating that the bullish strength is clearly weakening! This kind of rise is more like the operators are fishing—first pulling up to attract retail investors to take over, and then turning around to smash the price to harvest!
As I mentioned this morning, the probability of a direct strong pull is very low; it is highly likely that we will first wash out before deciding on a direction!
This kind of market is the most torturous; fearing being trapped if you chase high, and fearing missing out if you don’t chase, but the solution is very simple—keep your hands off and don’t take over at high positions, wait for a pullback to find an opportunity to enter!
In our circle, we are already focusing on the key support levels ahead; brothers who are interested can join. The market is not just for watching the excitement; it's about laying ambush in advance to truly reap the benefits.