1.6 Ethereum High Position Warning
The current visible high is at least 3800. Assuming we are not close to 3800, do not chase shorts; wait for a break below the key level and then test the rebound before we look for shorts. It's okay to miss out on some points, as long as we can take profits on long positions at high levels.
At this point, regardless of any patterns that appear, we will not look for shorts, and we will temporarily abandon the reference of technical indicators as they are meaningless.
As long as we touch the key level we desire and start to decline, it will likely be difficult to turn back. It will go down all the way, and any rebounds are just to lure in more buyers. Therefore, at the current position, the probability of going up is relatively high. Bullish sentiment needs to be cultivated and stabilized; otherwise, during the decline, there won’t be a large number of bulls entering frequently to go long.