ETH daily line:
Yesterday's ETH market experienced a large retracement, but compared with the day before yesterday, the depth of the retracement was reduced and did not fall below the low of the previous day's retracement. Although MACD shows a shrinking state, other technical indicators show an upward trend due to the morning rebound, and the overall market is still dominated by bulls. With the upgrade of Ethereum today, whether the market will usher in a larger retracement still needs to be observed for changes in the market in the future. It should be noted that good news may turn out to be the end of bad news. When paying attention to the market, everyone should pay attention to the trend in this aspect, and remember to step back before performing long operations, and do not blindly chase long positions. In addition, the Bitcoin halving in May is also an opportunity for the market to explode, which is also mainly good news.
4H:
Yesterday's market fell under pressure when it broke through the Fibonacci retracement line of 1.382, and even fell to 0.382 in the evening before stopping the decline and rebounding. Now the market has rebounded to the false breakthrough position of 1.13. From a technical point of view, the market has broken through the suppression of the mid-track. Each moving average also shows an upward trend, and the technical indicators are upward. Looking at the white market as a whole, the market is mainly rebounding. The focus at the top is the suppression of the false breakthrough position of 1.13. If this position is broken, it is possible to see the suppression of the upper high point near 4098. Today is the day when Ethereum Cancun is upgraded. During the white trading period, you should first pay attention to the rebound. In the late trading, you need to observe the market trend. If it can break through the high point, then the market may undergo a certain correction. At this time, you can consider the correction during the correction. Go long. If you want to go short at the highs, be sure to set a stop loss.
