$ETH Evening Thoughts: 9.21.
The second coin has broken through the megaphone pattern and the resistance level at 2719. It’s also really strong—straight up to 2748. From here, it looks like the second coin will likely move into consolidation and oscillation because it’s already risen a lot. The consolidation range is 2722-2648. It should consolidate until the U.S. stock market opens to choose a direction. During the time before the U.S. market opens, the second coin may pull back to retest around 2648 and look for a bottom signal to enter a long position with half size. If it pulls back, enter; if it doesn’t, just wait and observe. As long as the second coin can maintain consolidation within the 2722-2648 range, it won’t go back down to revisit the support zone 2608-2568. Conversely, once the second coin stabilizes above 2719, the next two upward target levels are 2789-2856. Also, there hasn’t been a top signal for the second coin. Don’t try to guess the top and short. There hasn’t been a structural breakdown either—don’t short carelessly; it’s easy to get beaten. You know why the big coin and second coin have risen so hard? Look at the long/short positioning ratio—there are way too many people shorting. Why wouldn’t it squeeze them?
With volume breaking above 2719 on the right side, the aggressive crowd chasing longs is in. A drop with volume below 2694 on the right side signals chasing shorts—watch how the volume changes and set a stop loss.
On the hourly timeframe, once the second coin holds above 2719, look for 2748-2789.
On the 4-hour timeframe, if it breaks below 2694, look for 2647-2608.
On the 4-hour timeframe, the consolidation box range 2556 has been broken. After the break, it pulled back to the upper boundary of the box at 2556 to confirm support, then started a rebound toward the direction indicated by the red arrow at the bottom. Also, on the 4-hour timeframe, it has made a high at 2748. At the moment, as long as the 4-hour timeframe pulls back without breaking below the yellow bullish trendline indicated by the red arrow, the market won’t go into a deeper pullback. The corresponding price level is around 2613. From the 4-hour Fibonacci, if the second coin can remain above the 38.2 level, it has a chance to challenge the 1:1 upside target around 2880. Meeting adjourned.
$ETH
#比特币突破8.5万美元
The second coin has broken through the megaphone pattern and the resistance level at 2719. It’s also really strong—straight up to 2748. From here, it looks like the second coin will likely move into consolidation and oscillation because it’s already risen a lot. The consolidation range is 2722-2648. It should consolidate until the U.S. stock market opens to choose a direction. During the time before the U.S. market opens, the second coin may pull back to retest around 2648 and look for a bottom signal to enter a long position with half size. If it pulls back, enter; if it doesn’t, just wait and observe. As long as the second coin can maintain consolidation within the 2722-2648 range, it won’t go back down to revisit the support zone 2608-2568. Conversely, once the second coin stabilizes above 2719, the next two upward target levels are 2789-2856. Also, there hasn’t been a top signal for the second coin. Don’t try to guess the top and short. There hasn’t been a structural breakdown either—don’t short carelessly; it’s easy to get beaten. You know why the big coin and second coin have risen so hard? Look at the long/short positioning ratio—there are way too many people shorting. Why wouldn’t it squeeze them?
With volume breaking above 2719 on the right side, the aggressive crowd chasing longs is in. A drop with volume below 2694 on the right side signals chasing shorts—watch how the volume changes and set a stop loss.
On the hourly timeframe, once the second coin holds above 2719, look for 2748-2789.
On the 4-hour timeframe, if it breaks below 2694, look for 2647-2608.
On the 4-hour timeframe, the consolidation box range 2556 has been broken. After the break, it pulled back to the upper boundary of the box at 2556 to confirm support, then started a rebound toward the direction indicated by the red arrow at the bottom. Also, on the 4-hour timeframe, it has made a high at 2748. At the moment, as long as the 4-hour timeframe pulls back without breaking below the yellow bullish trendline indicated by the red arrow, the market won’t go into a deeper pullback. The corresponding price level is around 2613. From the 4-hour Fibonacci, if the second coin can remain above the 38.2 level, it has a chance to challenge the 1:1 upside target around 2880. Meeting adjourned.
$ETH
#比特币突破8.5万美元
