1.23$ETH The market is slow to rise or fall. Ethereum has yet to reach 3000 and faces resistance. Where should we position ourselves this evening?
On the daily chart, Ethereum has formed a long lower shadow, probing the low of 2864 with a 21-day pin bar. Subsequently, it rebounded above 3000 but failed to stabilize, forming a double top structure. In the 4-hour chart, there is strong selling pressure in the 2950-3000 area. The trend still indicates a decline. The current price is fluctuating around 2936, forming a small body. The battle between bulls and bears is evident. Considering the weekend's fluctuating market, chasing the market price can easily lead to being trapped, regardless of whether you're bullish or bearish. It's clear that attempting to catch a rebound from the previous low isn't a mistake. The market this week has been as unpleasant as a dog's poop. However, the more it looks like this, the less we should rush. Rushing is futile; it’s better to sit back and watch the fight between the tigers. After all, we are human, not gods, and it's impossible to catch every move. Therefore, I will continue to position my brothers around the Porsche fragment levels.
Bullish near 2866-2836, additional positions: to be determined in the comments section.
First tier looks at 2926-2896.
Second tier looks at 2996-2966. Pattern level at 3066.
