$ETH 📉 April 7th, the super bear returns after the bulls retreat?
Yesterday
After experiencing a strong surge, there were several attempts to touch the strong resistance at 2160
All ended in failure, as seen in the daily chart with a long upper shadow
The 4-hour chart shows two large bearish candlesticks, which is enough to indicate the importance of this position
After a divergence on the 30-minute chart, it has broken down from the pivot
Of course,
Currently, it has not completely broken below 2080 to form structural damage
The direction of bulls and bears is unclear, continue to wait for a clear structure to form
Assuming it goes down to around 2090 and does not create new highs or form a selling point
Gradually shift to a bearish bias, indicating that this daily reversal may end
Initiating a big sell-off mode📉📉📉
However, I still lean towards a consolidation view📈📉📈
After all, the previous bullish trend was quite strong
Simple summary:
📈As long as the 2080-2100 range holds steady, there’s no need to panic, focus on the strong resistance at 2160
Yesterday
After experiencing a strong surge, there were several attempts to touch the strong resistance at 2160
All ended in failure, as seen in the daily chart with a long upper shadow
The 4-hour chart shows two large bearish candlesticks, which is enough to indicate the importance of this position
After a divergence on the 30-minute chart, it has broken down from the pivot
Of course,
Currently, it has not completely broken below 2080 to form structural damage
The direction of bulls and bears is unclear, continue to wait for a clear structure to form
Assuming it goes down to around 2090 and does not create new highs or form a selling point
Gradually shift to a bearish bias, indicating that this daily reversal may end
Initiating a big sell-off mode📉📉📉
However, I still lean towards a consolidation view📈📉📈
After all, the previous bullish trend was quite strong
Simple summary:
📈As long as the 2080-2100 range holds steady, there’s no need to panic, focus on the strong resistance at 2160