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

After Ethereum hit a new high in the morning, the market retraced. Yesterday, it did not break the low point and rebounded, forming a small positive candlestick. As the market rebounds higher and higher, the corresponding risks also increase. It is advisable to be cautious about chasing long positions at high levels and to go long on retracements. It's better to make a small profit than to get deeply trapped. Ethereum's market is still strong, and various technical indicators are predominantly upward. One thing worth noting is that the trading volume did not increase significantly during yesterday's rebound. If the market continues to rise on decreasing volume today, caution is needed, especially as the market approaches the 4000 mark. There will be greater volatility, relative to Bitcoin, Ethereum is in a period of catching up. In a few days, it will be the time for Ethereum's London upgrade, so risks should also be taken into account.

On the 4-hour chart, the market retraced and rebounded again yesterday. In the morning, it retraced to the position of the false breakthrough of the Fibonacci retracement line 1.13 above the needle, and rebounded with support from point 1 below. The market during the day will mainly focus on oscillation and repair. From the perspective of technical indicators, the trend of the rebound is still very obvious, and the recent pattern of hitting new highs and then retracing has given us many opportunities to get on board. Everyone can seize these opportunities. The main focus above is on breaking the new high and the 4000 mark. Personally, I think there will be a retracement around 4000. 4015 is the 0.786 Fibonacci retracement level of the overall market rebound. Everyone should pay attention to risk control.

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 trades and make profits. You can do it too! Rain or shine, Wolong is waiting for you.

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