Source of Information: Aggregation Group (Crypto Circle Big Beauty)

Analyst — Terry

ETH

1. The weekly chart shows a long lower shadow bearish candle, as the closing price is at a previous high resistance level. The candlestick pattern is interpreted as a high position hanging man, indicating a tendency for a short-term peak.

2. Combined with trend lines and the weekly movement from August 16, 2021, even if there is an upward movement in the short term, the space is relatively limited. The potential bullish target refers to 4250—4300 (reverse short position).

3. In the daily chart, the previous high resistance near 4K is undergoing a pullback, effectively rebounding due to the reverse support from prior platform high points, currently presenting major issues:

(1) The height of the rebound does not break the recent high, and is more inclined to digest the pressure of the large bearish candle, with trading volume showing a shrinking increase, indicating a divergence between volume and price.

(2) The pressure in the range of 4000—4100 objectively exists, forming strong resistance. The potential movements refer to:

<1> Recently high points are blocked, forming an M-top.

<2> Breaking through recent high points, the upper space refers to X-line suppression, completing the A-wave pullback after the 5-wave.

4. In the 4H chart, during the price pullback from previous highs, it receives dual support from the EMA moving average and low-volume concentration, rebounding. The 3500 support can still serve as an important reference for long positions.

5. The price movement within the Gann angle lines is relatively standard, breaking through and retracing according to different angle line rules. In the short term, pay close attention to the 3/1 line (reverse pressure) and the resonance pressure with the previous high, while support refers to the resonance support from the EMA moving average and the 4/1 line.

6. In short-term movements, it is crucial to pay attention to the time cycle rules of high position fluctuations (6 days) + past movement patterns: weekend volume shrinkage and Monday trend changes.

Trading Strategy

Short Position: Gradually short near 4000—4050, average price 4025, stop loss 4125, target 3925—3800 (against the trend + high short speculation + short-term).

Long Position: Gradually long near 3700—3600, average price 3650, stop loss 3500, take profit 3800—4000 (low position limit order).

The above views are for reference only, trade at your own risk, and pay attention to position and risk control.