Opportunity signals under massive fluctuations: the 120,000 area becomes a key anchor point, how should one lay out after Ethereum's 4700 pin bar?

Tonight's market once again staged a 'roller coaster' performance.

First, there was a rapid rise to 124500. Just when the market thought a new round of offensive was about to commence, the market quickly pulled back to 120800. This back-and-forth switching in a short time, with a fast pace and significant amplitude, is clearly a robust washout action. Many investors may be disrupted by this violent fluctuation, but looking beyond the surface to the essence, several key signals are already quite clear.

The most critical point is that the 'top-bottom conversion' effect in the 120000 to 120500 area has become increasingly clear. In previous market movements, this range was an important resistance level, but with the adjustment of market structure, it has now transformed into a strong support zone. It is particularly worth noting that the pullback after this rise to around 124000 is not a signal of a market peak—this pullback is more like a digestion of previous upward momentum and a re-confirmation of the key support level, aimed at accumulating strength for future market movements.

From a long-term wave perspective, the 120000 area remains a key entry window worth focusing on. The current market's larger momentum has not shown signs of weakening; instead, the short-term washout is continuously solidifying the foundation for upward movement. For long-term investors, such fluctuations provide a more relaxed entry opportunity.

Looking at Ethereum again, today's market saw a 'pin bar' pattern at the 4700 position during the intraday session, which also does not require excessive panic. This kind of short-term quick drop is more of a temporary release of emotions rather than a reversal of the trend. For the layout strategy regarding Ethereum, one can follow the idea of 'buy small dips, buy large dips'—grasping the opportunity for pullbacks amidst market sentiment fluctuations, maintaining a bullish logic, and even adopting a more proactive posture to 'run into the market' to seize the opportunity for subsequent market movements.

Overall, the current market fluctuations are essentially a process of consolidation and accumulation of strength. The stabilization of key support areas and the continuation of larger momentum all point to a clear direction: do not be disturbed by short-term oscillations; seizing layout opportunities in core areas will allow for better grasp of the upcoming market movements.