$ETH Evening Thoughts:
Do not go long against the market during a downtrend, and do not forcefully short during an uptrend. Follow the trend; one cannot row against the current.
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Speaking through the chart: Currently, the market for 'second pancake' is only suitable for shorting on rebounds and not for going long. This is because the hourly high points are decreasing, and the low points are also decreasing. Unless we stop making lower lows and start making higher highs, then we can consider going long on the right side.
For 'second pancake' to rise, it needs to break through 3897 first! If it can't break 3897, don't think it will go up. The altcoin doesn't follow the rise, but it definitely follows the fall.
The exchange rate for 'second pancake' has gained temporary support around 0.036, but this support at 0.036 is unlikely to hold for the exchange rate of 'second pancake'.
Follow the marked positions on the chart; if the position is given, act; if not, wait patiently for the opportunity to enter. Pay attention to the volume-price relationship and set appropriate stop-losses. Meeting adjourned.
