$ETH Evening Thoughts:
The exchange rate for the second contract is still at a resistance level of 0.03659 and has not broken through, but the high and low points of the exchange rate on the 4-hour chart are rising.
Currently, there has not been a new higher high. Looking at the 4-hour chart, we need to see if the exchange rate will pull back to 0.03554 to continue to soar, or if it will break down to test 0.03414-0.0337 again. If the exchange rate does not break through 0.03659, the second contract will not experience a cliff-like surge.
🦓
Speaking through the chart: the second contract shows a W-bottom pattern on the hourly chart making a comeback, but the process within this W-bottom is a bit tortuous.
To complete the W-bottom, it must break through the neck line at the hourly level of 3408 in order to look upwards towards 3436-3505. If it can't break the W-bottom, it won't be useful.
Check the entry positions in the chart yourself, and if you don't understand, ask and set a stop loss. Tonight might replicate last night's market, possibly going down first and then up.