It's torture, and it's that familiar Asian market crash time again. Every time the Americans work hard to pull it up at night, Asia wakes up and just keeps selling, who knows what they are thinking.

This time, ETH has made its fourth attempt to break the 4000 barrier in this cycle, but was brought down by Bitcoin. It seems that we need a deeper pullback before continuing to rise. Currently, besides the support at the 3800 level, everyone should also pay attention to the trendline around 3730; when it arrives, we can take a short-term long position, and there is a good chance we can catch a nice rebound. Our previous long position was safely taken at 4050, and that level was quite accurate.

From a long-term perspective, Ethereum definitely cannot withstand this major resistance at 4000. This time, it can at most be considered a failed attempt; after a pullback of 1-2 weeks, if it comes back to 4000 again, then it will truly break, marking the beginning of a new major upward wave.

In fact, the bull market is still long, so don't be eager for quick results. The market always fluctuates up and down; it takes a year to complete this journey, not just a few weeks. We need to be prepared for a long-term battle and try not to gamble on high-leverage contracts, as the margin for error is too low, because those who survive to the end are the real winners!