The rebound is likely over.

CN
1 day ago

In mid to late December, two consecutive articles reminded everyone to cherish the short-selling opportunities provided by the rebound window.

The monthly MACD has already crossed bearish, indicating that the pullback since October last year is a monthly-level correction, not something that can end in a short time. If we compare by time, the current stage is roughly equivalent to March 2022.

From a daily perspective, the rebound since late November has repeatedly stalled around 94,000, with the overall trend showing a right-angle triangle oscillation. The large bearish candlestick in the past two days has completely engulfed the bullish candlestick from January 5, essentially confirming the end of the rebound. Moreover, this round of rebound is a typical three-wave form, and the possibility of a five-wave rise no longer exists, so let's reduce our fantasies.

For those who did not short at 94,000, the next opportunity will be when it breaks below the lower support of the triangle, likely around 88,000. Before it breaks down, there may still be some minor fluctuations.

The monthly ETH chart is even more alarming; the monthly K technical indicators have already shown a top divergence, especially with the three peaks from 2024 to 2025, which have been in a state of top divergence. This wave has crossed bearish again, and a complete correction is inevitable. It is certain that the indicators will return to the zero axis. Just endure slowly; only by getting through this can we have new opportunities.

From the daily K perspective, the large bearish candlestick completely engulfs the previous bullish candlestick, indicating that the buyers are very weak. Let go of the fantasies.

Follow me to maximize trend profits with minimal operations.

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