ETH has soared from 2100 to 4000, it feels like riding a rocket 🚀 without any pullbacks! Now the 4000 mark is just around the corner, but experienced traders know — at this level, it can either shoot up to the sky 🌪️ or bury people directly 💀. The 4-hour chart saw a surge in volume at 3940, with aggressive buying 💰, but you need to be cautious:
- It could be that the whales 🐶 have set up short positions in the 3940-4000 range, just waiting for retail traders 🥬 to come in and get harvested.
- It might also be the last washout before a genuine breakout 🛁.
The 1-hour chart has already shown a "bullish exhaustion" signal 😵, and my trading strategy is simple: **never chase the highs 🙅! Wait for a rebound to the 3980-4000 resistance zone and short directly 📉**, with a stop-loss set 20 dollars above the previous high. The first target is 3736 🎯; if it breaks, then look for 3500, and find entry points on the 5-minute chart ⏱️ for quick in and out.
BTC, this well-behaved baby 👶, is still lying flat in the range, but don't be fooled by appearances 🃏 — the longer this sideways movement lasts ⏳, the more explosive the subsequent breakout will be 💥. The 4-hour MACD has a death cross ☠️ below the zero line, clearly indicating that the bears have the upper hand. But remember the experienced traders' advice: **there are often false breakouts at the end of a range 🎭!**
My trading plan:
- Lightly short at the upper resistance level ✋
- Lightly long at the lower support level 👍, and immediately stop-loss and reverse if it breaks 🔄
- Best strategy: **wait for a confirmed breakout to follow the trend 🏃**, letting the market find its own direction 🧭
