$ETH $4,850, as a key resistance level, failed to break through, triggering intensified market selling pressure, and the ETH price quickly fell back, showing signs of a waterfall adjustment.
If it's a callback, it should continue to decline and then oscillate in a certain range to build strength. This round of the bull market will definitely break new highs, looking at 5000.
But right now, if 4600 can't hold, then it will head towards 4300. If 4300 can't hold either, then just run away. Ethereum is pretty ruthless; it doesn't let you in when it rises and doesn't let you out when it falls 🤡. Don't have any lucky thoughts.
This position is not worth betting on, and I don't really recommend entering a short position either. Ethereum's nature is to pull up a big bullish candle at any time. Even if it falls like this, it will definitely pull up big before falling further, a double kill for both bulls and bears.