Reviewing the market of last night $ETH , although the 4-hour level closed above the blue dashed line point A, it did not firmly hold above 4465 during the pullback, and the rebound also did not return above point A, so it will continue to decline and follow path three.
At noon, it broke the left high of 4329 again. If it closes back above 4382, it will be a false breakout, and we can look for a rebound. If the pullback does not return, it will continue to decline.
Yesterday, it was mentioned that the daily level has completed the upward wave 5 and is starting to form a top structure. Pay close attention to whether the closing line on Wednesday morning can show a stop-loss signal for point A. If it closes above 4470, we will continue to look up at 4600. After all, we are starting to form a top structure, so don't be too aggressive with long positions.
🗳️🗳️ Pay attention to 2 AM on the 21st, when the Federal Reserve will announce the minutes of the monetary policy meeting.