Currently, there's no need to panic about a square callback; the upward channel for Ethereum that I previously illustrated has not changed at this time. The callback is an opportunity to enter long positions. The current point has already retraced to the low, allowing for entry operations!

【Analysis of Ethereum Price Trend from the Four-Hour Chart】

K-Line Pattern:

Recently, the price has been fluctuating around 4000, attempting to break through multiple times without success, forming a short-term top. The daily K-line shows a long upper shadow on December 6, indicating heavy selling pressure above. However, there is significant buying pressure below, along with strong support.

Technical Indicators:

MACD: In the four-hour cycle, both DIF and DEA are trending downwards, and the MACD histogram is negative, indicating an increase in bearish momentum. However, the volume has already been released, suggesting that the retracement has reached a low point.

BOLL: Currently, the four-hour Bollinger Bands have narrowed and then expanded. The coin price is touching the lower band and has not broken below, indicating strong support below and a bullish trend in the future.

EMA: The current price is below EMA7 (3939.64), with EMA7, 30, and 120 showing a bearish arrangement. The short-term trend is weak, but the long-term trend remains predominantly bullish.

Evening Ethereum Stable Return Layout on 12/9:

It is recommended to enter long positions around 3860-3880 for Ethereum, with a take-profit target of 3950-4000. If it stabilizes at 4000, you can continue to hold!