@ChainbaseHQ
#chainbase ETH Weekly Bullish Target 4200? Beware of Potential Risks!
From the weekly perspective, ETH's strong rally is likely to approach 4200. The previous two similar consecutive rallies topped around 4100, but "third time's the charm" – this time it may very well break through 4100 and even set a new high.
The logic is simple: a large number of shorts will view 4100 as a strong resistance level, with stop-losses set above 4100. The main force is likely to break through 4100, triggering liquidity from short positions before pulling back.
However, be cautious of the risks:
If the breakout fails, a rapid pullback may occur.
It is recommended to focus on spot trading this week, and to open contracts with a gradual approach, avoiding a full position being wiped out in one move.
Summary: The trend is bullish, but ensure proper risk management, don’t fall before dawn!