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First, let's look at the daily chart:
There were spikes up and down, both long and short, but it still closed above 957, which is not much different from the levels seen in the past two days. Support below is at 933-947, 957, and resistance above is at 985, 972.
It's been a wide fluctuation around these few levels. As long as the body doesn't break below 933, it remains primarily a fluctuation. If it breaks, it confirms a major level pullback, and the top keeps lowering.
Two approaches: Reverse when the price reaches support/resistance, or break through and chase right side. Since the top keeps lowering, it's relatively safer to short.
I hope those who went long a few days ago have set their stop loss around 972 as I mentioned, without a significant profit retracement.
To summarize: Observe support around 947-933 and resistance around 966-972.
Let's take another look at Ethereum:
Important support on the weekly chart is at 3562 (reached yesterday) and resistance above is at 3881.
The daily chart shows a top with a broken head and a foot with increased volume (the previous candle is higher in the top and lower in the bottom), indicating a risk of a pullback. Support below is at 3535, and if it breaks, it may start around 34-33.
Let's see if there are any trading opportunities at the hourly level:
Resistance above is at 3681, support below is at 3572. If it breaks the mid-line at 3614, you can short on the right side.
Today's trading thought for Ethereum is as follows:
Short: Observe where it doesn't rise in the small time frame between 3666-3681, maximum stop loss at 3710.
Long: Observe where it doesn't fall in the small time frame between 3572-3535, maximum stop loss at 3506.
Today's trading thought analysis is complete. What do you all think, feel free to discuss in the comments. Here is your loving Xiaobai, providing daily free analysis (heart emoji).