@ChainbaseHQ
#chainbase ETH Weekly bullish target 4200? Beware of potential risks!
From the weekly perspective, ETH's strong rally is likely headed towards the vicinity of 4200. The previous two similar consecutive rallies peaked around 4100, but 'third time's the charm'—this time it may break through 4100, or even reach a new high.
The logic is simple: a large number of short positions will view 4100 as a strong resistance level, with stop-losses set above 4100. The main players may likely push through 4100, triggering the liquidity of short positions before pulling back.
However, risks must be noted:
If the breakout fails, a quick pullback may occur.
It is recommended to focus on spot trading this week, and to open contracts as much as possible in a staggered manner to avoid being wiped out by a single move.
In summary: the trend is bullish, but be vigilant about risk management, don't fall before dawn!