$ETH Evening Thoughts:
The trend of the second contract does not have much to say, so let's keep it short: The high points of the second contract on the hourly level are decreasing, and the low points are also decreasing. Currently, it is supported by 3283 and has not continued to decline. The second contract is still consolidating within the triangle, with 3320 above as resistance and 3283 below as support.
Before breaking out of the consolidation range of 3320-3283, do not act; staying still might be the best trade right now.
The second contract can only continue to rise if it breaks 3320, aiming for the upper boundary of the triangle and the previous high of 3403. If it can't break above 3320, it serves no purpose.
As long as it does not break below 3283, it cannot decline further; only breaking below 3283 will lead to a continued decline. If it breaks below 3283, the large bullish candlestick indicated by the left white arrow is likely to be broken.
Now, there is one good thing: the second contract is still moving within the large bullish candlestick indicated by the left white arrow, forming a pregnant line pattern. As long as it does not break this large bullish candlestick, the bullish trend on the hourly level will remain; breaking it will end it.
The second contract should be pursued on the right side with volume breaking 3320, and shorted on the right side with volume breaking 3285. Pay attention to the changes in trading volume and set stop losses properly.
The second contract stabilizes above 3320 on the hourly level, aiming upwards at 3366-3402.
On the 4-hour level, breaking below 3284 looks down at 3223-3176; breaking 3284 begins the 4-hour level correction.
Nothing much to say about other levels, meeting adjourned.
