$ETH
🐶ETH is indeed a 'nervous coin'! Yesterday, it broke past 3050, helping the brothers avoid an 8% crash!
Yesterday it was mentioned that 3050 would break, and it was emphasized that Ethereum has always been a nervous coin. As a result, yesterday, altcoins only dropped by 4 points, while this dog Ethereum dropped by 8 points. Fans were also advised not to buy Ethereum outright, but to look for a second buying opportunity after a 30-minute pullback. However, it didn’t materialize yesterday, successfully helping fans avoid a wave of crash.
According to the Chande theory technical analysis, from the four-hour level perspective, the four-hour structure over the past two months must either be complete (at least five waves) or at least show three waves of bullish divergence. However, currently, ETH has three waves without divergence, so after the four-hour rebound completes, today’s low point may still be broken. Let's patiently wait. We can either wait for the four-hour rebound to reach around 3060-3080 to short, or wait for a 30-minute level pullback to take a long position with half a position.
From the 30-minute level perspective, the 30-minute structure is complete but without divergence. Currently, ETH's four-hour bottoming pattern has emerged, and it is engulfing a bullish golden K. Therefore, we can still try to wait for a 30-minute pullback to take a light long position. It’s best to try around the 0.5-0.168 pullback for better cost-effectiveness, but stop-loss is essential as this is a counter-trend trade.