8.5 ETH-It has fallen badly, and has reached the consolidation head when the market exploded last year. It is much weaker than BTC.
Similarly, if you want to enter the long position with such a sharp decline, you need to wait for the second test of the 2177-2104 support effectiveness before entering the market. You need to be cautious and cautious when placing orders against the trend.
Subjective: If it meets the bullish bat expectation, there is still two or three hundred points of space below that needs to be filled by the decline. After filling, it is bullish to around 2820, completing the bullish expectation on the right side of the bat pattern.
A bearish bat may be formed again in the future, but it takes time to verify, calculated in months. (2177-2104 is the stop-loss entry support, 2597, 2860, 3126 is the take-profit position B point, the subsequent decline retests 2177-2104 to form C point, 3960, 4910-5367 is the D point reversal area)
From the perspective of volume, there are signs of stopping the decline, but the structure still needs to be tested to verify the effectiveness of the support to confirm the arrival of the rising market. Be prepared and wait patiently
Support: 2177-2104 1785-1726 Small level 1973
Resistance: 2820-2884 3960-4066 Small level 2380 2694 3160
