$ETH The 4-hour K-line trend is making people frown!
Technical indicators are all going bad, KDJ and MACD are both heading down, the bears have completely taken control. The price is stuck between two moving averages, unable to go up or down, but trading volume is decreasing, indicating that the bulls have no intention of lifting the market.
The upper resistance is pressing down like a mountain, while the so-called support level at 2300 looks flimsy. The OBV energy flow has been stagnant for three days; if it breaks down, we will directly look at the 2250 gap.
Don't talk to me about golden ratio levels; the current market is clearly under bear control, and the bulls have no power to fight back.
The most critical issue is that the contract open interest is still rising, but the funding rate has turned negative, indicating a situation where bulls are stepping on each other. My personal opinion: This is definitely not the time to bottom-fish; at least wait for the K-line to stand back above EMA30 before discussing.
If you can't gauge it and keep chasing highs and cutting lows, feel free to chat. Like + comment, Brother Hu will help you get on board.