$ETH Evening Thoughts:
When it rises, look bullish; when it falls, look bearish. If you don't want to be a victim, it's hard to accept. I can only say you are too suitable to be a victim; not only will you let others harvest you with a sickle, but you will also be chopped into chives. This afternoon, someone messaged me saying that the second coin can rise to 5000. Are you letting the second coin pull you into a trap?
You can't tell friend from foe, or are you lost? I speak directly, but my words may be rough; however, the reasoning is sound, so you should think about it carefully.
I want to tell everyone a piece of advice: when everyone thinks the second coin can continue to rise, you need to be especially cautious. There is a high possibility that the second coin wants you to chase the highs, and the big players will take this opportunity to offload their holdings, making you the one left holding the bag. Now that there is no interest rate cut and no additional liquidity, what is supporting this rise? And it’s happening on a weekend! You are pulling up the market with your own money! Always keep a clear mind when trading, don’t be muddled every day.
👠
Let’s talk about the chart: The second coin is currently fluctuating in the range of 4308-4174 on the hourly level, and it has broken below the midpoint of this range. I don’t expect the second coin to continue to rise before it breaks through the midpoint of the range, unless it breaks through the midpoint and the box drawn in the chart.
If the second coin breaks below the yellow trend line in the chart, the support levels below 4106-3943-3878 are the target positions for the second coin’s pullback. As for how far it can pull back, we will have to observe as we go along. If it does not break the range, it will continue to fluctuate around the upper and lower boundaries of the range.
👠
If the second coin breaks above 4236 with volume, consider going long; if it breaks below 4196 with volume, consider going short. Pay attention to changes in volume and set stop-losses appropriately.
On the hourly level, if the second coin breaks and stabilizes above 4234, look upwards towards 4276-4309.
On the 4-hour level, if it breaks below 4158, look down towards 4106-3943-3878. If it breaks below 4106, a pullback is necessary, and no one can stop it.
Continuing to analyze the chart: Why is the second coin rising so sharply? Let’s take a look at the exchange rate of the second coin. On the daily level, it's forming a round bottom pattern, currently facing resistance at 0.03659. If it can break through 0.03659, the exchange rate will challenge 0.04070. If it can’t go above 0.03659, the exchange rate will undergo a daily-level pullback, and the second coin will also pull back accordingly. This is the reason why the second coin is strong or weak; when the exchange rate is strong, the second coin is stronger; when the exchange rate is weak, the second coin is even weaker. Meeting adjourned.
