1.2 Midnight big pancake and Ethereum market analysis.

1.1 Ethereum Thought Reference

Some friends asked me to talk about Ethereum. To be honest, there's not much to say about the current fluctuating market. In a fluctuating market, the approach is to take high shorts and low longs, and set good stop losses. If I must say something, then we can look at the high-level yearly K-line chart where Ethereum also fluctuates similarly to Bitcoin after closing. Many friends are paying attention to the support level around 3300, so let me elaborate. Looking at the four-hour chart, Ethereum surged to around 3450 yesterday before starting to retreat. On the hourly level, we can see the formation of an M double top pattern. The upward pressure within the day can first focus on the three points: 3370/3400/3430. Currently, the market is quite concerned about where Ethereum will go if it breaks below the 3300 mark. I won’t look too far ahead. If it breaks, the lower support of 3230 will definitely need to be tested. Currently, Ethereum's four-hour Bollinger Bands are showing a contracted parallel state, and the MACD is also on a downward opening, nearing the 0-axis with signs of a dead cross forming. As it stands, Ethereum should follow Bitcoin and focus on high shorts. You can choose to short once in the range of 3370-3390. If you're looking for a long, it’s the same old story: wait to see if the 3300 support holds before making any decisions.