$ETH Evening Thoughts:
The second pancake really can't take the praise! Just finished praising it at noon for finally being strong, and in the afternoon, it starts to drop. Speechless……
Looking at the second pancake on the 4-hour chart, if the green bar in this 4-hour period is engulfed as indicated by the yellow arrow, it will signal that this wave of increase will come to a brief end. The smaller timeframe is showing a bearish pattern. The key support for the second pancake is still at 2640.
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Let's see if the evening opening of the US stock market will drive a rise in the big pancake and the second pancake!
Make sure to set your stop loss as shown in the chart. If it breaks out, go long; if it drops below, go short. If you don't understand, just ask, meeting adjourned.