See original
WSAasun
--
Bullish
#ETH
The hourly chart broke a key level abc and has been mentioned repeatedly near the support at 3830. This is the convergence point of the dual lines on the weekly chart, which can serve as a resonance level. The area around 3830 cannot be broken; if it is, the space will be compromised. As it stands now, the hourly cc1 has dropped below -100 and quickly recovered. The upper part forms a box space along 3830, with the middle track around 3950, and the upper track around 4080. There is a short-term need for correction, and the above three points should be watched sequentially, leaving some buffer space below for risk control. This order will definitely be profitable; if 4100 is broken, it will be the historical high, with no doubt about it. Currently, there are no signs of an end to the A structure at the weekly level.
From the CM perspective, the long positions established around 3830 either need to stop-loss out or see their profits retraced, which has been quite severe, similar to the recent sharp decline of the counterfeit market, which has been devastating. However, this is a market worth billions; a single flower does not make a spring. I believe that after tonight's interest rate decision, Bitcoin will start to weaken against Ethereum, marking the true beginning of the counterfeit season.
The hourly chart broke a key level abc and has been mentioned repeatedly near the support at 3830. This is the convergence point of the dual lines on the weekly chart, which can serve as a resonance level. The area around 3830 cannot be broken; if it is, the space will be compromised. As it stands now, the hourly cc1 has dropped below -100 and quickly recovered. The upper part forms a box space along 3830, with the middle track around 3950, and the upper track around 4080. There is a short-term need for correction, and the above three points should be watched sequentially, leaving some buffer space below for risk control. This order will definitely be profitable; if 4100 is broken, it will be the historical high, with no doubt about it. Currently, there are no signs of an end to the A structure at the weekly level.
From the CM perspective, the long positions established around 3830 either need to stop-loss out or see their profits retraced, which has been quite severe, similar to the recent sharp decline of the counterfeit market, which has been devastating. However, this is a market worth billions; a single flower does not make a spring. I believe that after tonight's interest rate decision, Bitcoin will start to weaken against Ethereum, marking the true beginning of the counterfeit season.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0
Replies 0