Let's take a look at Ethereum today:
Currently, Ethereum is in the stage of stepping back to the support level. This round of callback has not broken the previous low, indicating that the support is strong. At the same time, the short volume of this round of decline has obviously shrunk compared with the previous wave, indicating that the short force has weakened.
The four-hour K-line at 8 o'clock this morning closed a long lower shadow positive line with large volume near the support level, confirming the effectiveness of the support, the callback ended, and the market stopped falling.
Although there were two rebound K-lines after the stop, the volume shrank, indicating that the bullish rebound was insufficient and the market may still need to fluctuate and consolidate. It is not the best time to enter the market yet, and it is necessary to wait for further confirmation of the callback with shrinking volume.
This stage belongs to left-side trading, and it is recommended to wait patiently for the right-side signal. Short-term trading should be stopped when it is good, pay attention to the utilization rate of funds, stop profit and stop loss in time, avoid being trapped due to greed, and maintain flexibility to seize more opportunities.