The line looks like an electrocardiogram, indicating that both sides of the market are in ICU fighting for survival, all depending on tonight's booster shot.

From this freshly baked 4-hour chart, ETH is currently stuck at $4297. Although it has risen by 1% today, it is clearly being pressed below the middle band of the Bollinger Bands (4442). What's even more disheartening is that it peaked at 4322 and then faded, not even touching yesterday's high. However, seasoned traders understand that such moments often hide opportunities for a reversal...

[Three Key Signal Interpretations]

1. The Bollinger Bands are constricting, the upper band at 4633 and the lower band at 4250 are quietly converging. This kind of 'neck tightening' movement usually indicates: either a sharp rise or a violent drop, but it will not remain horizontal for long. Remember August 12, when the Bollinger Bands contracted to the extreme, ETH skyrocketed by 7% in one day.

2. BBI resistance line pressing down

Currently, the BBI indicator at 4392 is like a pot lid pressing down, but interestingly, the price has built a platform between 4290-4320 for six consecutive candlesticks. It's like a weightlifter squatting down to gather strength— the longer the squat, the more explosive the release.

3. Volume-price divergence hides secrets

Although the price is lower than yesterday, the trading volume at the bottom of 4224 has clearly increased. This indicates that large funds are frantically buying in the 4200-4250 range, similar to the bottom-fishing tactics from the end of July.

Today's Operation Guide

Short-term Traders:

Current price 4297, don't rush, wait for two key positions:

✅ Break above 4322 (today's high) to chase long positions, target 4390

✅ If it breaks below 4250 (Bollinger lower band), stop loss and wait to buy at 4200.

Contract Players:

Key to observe the BBI indicator; if the price can stand above 4392 and stabilize, you can open a light position to try going long. But remember to set a stop loss of 20 dollars, as the recent pinning professionals have been particularly active.

Spot Traders:

Buy with your eyes closed below 4200, just treat it as dollar-cost averaging. The staking rate for ETH 2.0 has already broken historical highs, and just collecting interest is five times better than keeping it in the bank.

[Latest News Assistance]

Just released news:

A certain whale address (starting with 0x8d3) has bought 18,000 ETH in the 4250-4290 range.

The open interest for $4500 call options on Deribit has surged by 200%.

The scale of the Federal Reserve's reverse repos has plummeted, and market liquidity is quietly flowing back.

[Ultimate Prediction]

I favor the 'first suppressed then soaring' scenario:

During the day, there might be another test of the 4250 support. After the New York session opens, with the favorable winds from Powell's speech, it could be violently pushed through 4400. After all, on-chain data shows that 70% of ETH below 4300 has already been swept up by institutions, leaving little cheap ammo for retail investors.

Remember: When everyone is waiting for a pullback, the market often won't give a second chance to get on board. In this market, it's better to buy high than to miss out, especially with the ETH 2.0 upgrade and potential ETF benefits coming in September! Follow me for daily market analysis and precise short-term trading analysis, please check the homepage introduction.