Market Review:
Last night we mentioned that the market correction cannot only be upward; it will definitely be accompanied by downward movement. Therefore, we entered a short position around the 4250 level yesterday, and the market cooperated. This morning, Ethereum rose to 4293 before starting to decline. As of now, Ethereum is quoted at 4150, with a profit margin of about a hundred points. Next, let's focus on whether the intraday market can successfully reach the position we desire.
From the chart, the market has reached a critical position. If it holds, it will confirm around the 4250 area; if it doesn't hold, a conservative estimate would be around 4050. In terms of technical indicators, Ethereum is currently trading above the 60-day and 90-day moving averages on the hourly chart, so I think it's normal to see some fluctuations here. Additionally, there hasn't been any significant change in volume, so in the absence of obvious changes, we can maintain our previous view. Currently, I plan to continue holding; as for you, you can decide for yourself. After all, I can adjust based on market changes at any time, so everyone can decide based on their own situation whether to take profits or move stop-losses to secure gains.
I want to emphasize my personal view: I still believe Ethereum will decline to 4050-3950. Therefore, I am holding a short position around 4250. If there are any significant changes in the market, I will update my views again tonight. If you want to discuss together, you can contact me: Love_2025fa (VX).
Author's Note:
There are no absolute rights or wrongs in trading; analysis is always a pre-judgment. The key is to find real-time opportunities based on market changes. Everyone's opinions cannot be the same. If you have your own judgment, please trust it. If you choose to follow someone, then follow them to the end. This is just personal advice and for reference only.
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