$ETH Review: If there were no short positions yesterday, today's chart still provided several entry points for short positions, as indicated by the red arrows in the image.
However, the effectiveness of minute-level pattern structures is usually poor, and I will not pay attention to 5-minute or even 1-minute trading opportunities. Nonetheless, today I learned a lesson: in extreme market conditions, driven by strong emotions of fear & greed, even 1-minute pattern structures can still yield good results.
The market is always quietly changing amidst fear, doubt, and greed..... As a trader, what you need to do is to be patient, control your restless heart and fidgety hands, analyze, and wait for opportunities that you can understand and that have high certainty.
$BNB rebound has ended, the price has reached the upper boundary of the downward channel. Wait for the four-hour closing line for a potential short opportunity.
$EOS built a head and shoulders pattern on the 15-minute timeframe yesterday, but the price did not effectively break below the neckline. Instead, it formed a double bottom and continued to rise, so we should view this as a head and shoulders continuation structure.
From the hourly perspective, the consecutive bullish candles and the prominent upper shadows indicate significant selling pressure. At the same time, the trading volume did not increase during yesterday's rise, but rather shrank.
Therefore, my personal judgment is that EOS is likely nearing the end of its upward trend, and there may be one last surge, possibly pushing the price to the 0.9 - 1 dollar range before reversing.
In the final FOMO phase, be cautious when chasing longs.