Trend, Position Control, and Selection - The Three Steps to Success!!!

Ethereum refreshed its short-term high at 3830 last night, but the bulls did not increase their volume. Following Bitcoin's footsteps in the early morning, it experienced a significant pullback, dropping to a low of 3200. The last time such a significant pullback occurred was at the end of February, when it dropped from 3500 to 3160. The same plot, the same method: first, clear out the short positions, then drive out the long positions. With two deep pullbacks, the bottoming action has already been completed below.

In the four-hour chart, a V-shaped pattern emerged. Although the five-day moving average and the ten-day moving average crossed downwards, the five-day moving average turned upwards, the ten-day moving average moved up, and the lower side was supported by the thirty-day moving average. The candlesticks show two positives and one negative, indicating the potential for further exploration of the high points. In the afternoon, attention needs to be paid to the breakthrough near 3830. If the breakthrough continues, the next target will be 4000. After the test, an immediate pullback will form a small W-shaped pattern. Personally, I lean towards a direct upward movement, considering that Ethereum's price is not high compared to Bitcoin. Bitcoin has already hit a historical high, while Ethereum is still a long way from 3000 to 4800. In the short term, Ethereum is also stagnant, with a high probability of making up for the rise later.

Today, the focus remains on the support at 3510, which is at the neutral position of the Fibonacci 0.5. Above, attention is on the high point of 3830 from last night, which is also an important turning point. The continuation of the bullish market depends on the breakthrough situation at the turning point.

Real-time strategies will be provided during the day.

Due to the impact of the review time, for subsequent intraday adjustments, offline real-time strategies will be the main focus. The suggestions are for reference only. Follow my lead in trading, and you can profit too!!! Rain or shine, I'll be waiting for you at Pionex.

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