Two nights ago and yesterday morning, this account repeatedly and clearly suggested in articles and the community to buy the dip in Bitcoin. Yesterday, BTC experienced a rebound, reaching a high of 26567. For short-term traders, a profit of over 1000 points was obtained, and those who followed the rhythm have made gains.

From the perspective of the Bitcoin structure, the current rebound has only lasted for 4 hours, and the strength is still acceptable. It is highly probable that this round of rebound has not yet completed. For medium to long-term traders, it is best to wait for the daily chart to show an upward trend, which would take at least 5 days. For those who are skilled in trading and can handle small fluctuations, they can take some positions for short-term gains. For those who are not as skilled, it is best to break even or cut losses first. When a major selling point appears, this account will promptly remind the community.

Returning to today's main topic, ETH. The long-term trend of ETH has mostly been weak, following Bitcoin. Since the high point of 2141 on April 16, this round of pullback has been oscillating downward for nearly 5 months, until yesterday when it hit a new low of 1531, with a total pullback of over 28%. Considering the expected upward trend on the daily chart of Bitcoin, it is not advisable to be overly bearish on ETH at the moment. On the contrary, it is recommended to find buying points and gradually buy in.

First, let's look at the daily chart. The downward trend from the high point of 2141 has been extending until yesterday when it hit a new low of 1531. Internally, there has been a range-bound divergence structure, which can be terminated. Therefore, the main direction from a larger perspective is to go long, using secondary buying points to gradually enter, with the expectation of an upward trend on the daily chart.

Next, let's look at the 4-hour chart corresponding to the daily chart. The internal structure of the downward trend on the daily chart is very clear. As shown in the chart, the downward trend from the high point of 2141 can be broken down into several types of trends. After hitting the low point of 1531 yesterday, a 4-hour consolidation divergence buy signal appeared, indicating that the downward trend structure is ready to be terminated. Therefore, the main strategy at the moment is to buy on the pullback and focus on going long, with the expectation of an upward trend as shown in the 4-hour chart.

Finally, let's look at the hourly chart. Similarly, the hourly chart can also be broken down into the same level of analysis. The self-similarity and self-organization of the trading structure in the Dow Theory make the trend structure look very similar. From the chart, it can be seen that the hourly chart is about to show an upward trend, so the short to medium-term trading direction is still to buy on the pullback and gradually enter when buying points appear.

The most significant feature of Dow Theory trading is to focus on the structure, abandoning all subjective speculation and fantasy. Based on the level and structure of the trade, buy at buying points and sell at selling points, that's all!

If you are interested in Dow Theory and want to obtain Dow Theory learning materials for free, watch public live broadcasts, participate in offline Dow Theory training camps, improve your trading skills with Dow Theory, and build your own trading system to achieve a stable profit goal, use Dow Theory techniques to timely exit at the top and buy the dip, you can scan the code to follow the public account and privately message to add this account's WeChat to join the study group!

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