Ethereum has been bungee jumping again in the past two hours! It just plunged from $2310 to $2200, and now it has pulled back to around $2300. If you have a weak heart, don't look at the market! The 4-hour chart shows a clear upward oscillation, with the bottom rising like stairs. The rebound indeed has some strength, but there are obstacles ahead!

Now keep an eye on the $2318 critical level! Only if it breaks through can we consider it a continuous rise; otherwise, it's all just false moves! The KDJ indicator is even scarier, with the J line directly hitting the overbought zone (above 90). The K line and D line are almost touching; a short-term spike is inevitable, but the overbought reversal can happen in an instant! The TD indicator is flashing red 9, indicating significant downward pressure, and the green sequence is only at 4, with the recovery momentum crawling like a snail!

For those shorting, listen up! Short above $2300 directly, set a stop-loss at $2370, and take profit at $2240-2190. If it breaks through $2180-2150 directly, don't hesitate; aim for $2100! For those going long? Consider only when the price drops to $2150, but the stop-loss must be firmly set at $2100, taking profits of 50-100 points before exiting. In this kind of market, greed is a death wish!

Now everyone, keep a close eye on the Bollinger Bands' middle line! The price is currently hovering close to the middle line, but both the middle and lower lines are still weak, indicating that the market has no strength! Although the MACD has crossed bullishly, the green bars are expanding, but the bullish momentum is like squeezing toothpaste. I bet five dimes that this wave will either show weak volume or directly shrink!

The market sentiment is thinner than paper! As soon as geopolitical risks emerge, the bears will definitely fight back. You can see the data for yourselves; large wallets have already started to sell off quietly, and smart money has long retreated! Technically, the Bollinger Bands' middle line at $2318 is the line of life and death—don't even touch it! Remember my mantra: don't go long in overbought conditions, don't short unless resistance is broken, and when geopolitical risks are not resolved, cash is king!

Still not sure how to operate in this market? Follow me, and I'll give you the strategy; the execution depends on you!