$ETH Ethereum fell back to the moving average yesterday, but did not break the high point of the first section yesterday, and ultimately did not drive the 4-hour MACD double line across the 0 axis, which is a bad signal for bulls.

On the 13th, I drew a chart for you. At that time, the daily line went down to 4. From 2 to 4, the final movement was basically the same as what I drew on the 13th.

Yesterday, from 4 to 5, the daily line formed a bottom pattern, and the final closing did not stand on the 5-day line. It cannot be confirmed that the daily line started from 4 and went up in one stroke, that is, it cannot be confirmed that the high point from 6 to 7 must be higher than 5. Given that the 1-hour bulls did not drive the 4-hour MACD across the 0 axis last night, and the 4-hour moving average also crossed, there will be a decline from 5 to 6 during the day. This is the focus of today.

Also because of the bottom pattern formed last night, the probability of 6 directly breaking 4 today is not high, and then there will be a rebound from 6 to 7. Of course, the possibility of 6 being lower than 4 cannot be ruled out. If 6 is lower than 4, then this bottom pattern becomes a relay pattern, and the second target of 2830 mentioned on the 13th will definitely be reached (the first target of 3068 has been reached).