Is ETH still looking at 5000? The big top has formed, don't be a chump!
Monthly line, just closed. 1. The continuous three candlesticks in July, August, and September, is the increase in candlestick height getting smaller? July was a large upward candlestick, and August's trading volume was slightly larger than July's. The candlestick body has already become much shorter than August's, and the upper shadow is quite long, indicating a potential volume stagnation. September's candlestick directly turned into a downward candlestick, and it was extremely low volume, proving that there are fewer people chasing high prices at high levels. Without buying pressure, how can prices rise? Looking at the comprehensive situation of July, August, and September, it shows a process of bullish exhaustion and a shift to bearish dominance. 2. The left-side horizontal resistance at 4630 was not surpassed. 3. The MACD fast and slow lines and the energy bars are both diverging. Therefore, from the monthly perspective, the outlook is severely bearish.
