$ETH
Stayed in the hospital for three days, lost an appendix. Just saw the plate this afternoon.
Shorting at 3010, dropped to 2700 and then went to the hospital, came back to rise to 3200, very good. This wave of increase is merely due to some liquidity flowing back into the BTC ETF (Vanguard).
Can it rise to 3600? There's a possibility.
But for it to rise to 3600, at least ETH needs to stabilize at 3210, then it might reach 3460 (daily resistance). If it breaks above 3460, only then can you say that the entire decline has reversed from bearish to bullish.
In other words, the market is still dominated by bears, both on the 4-hour level and the daily level.
In other words, if it doesn't stabilize at 3210 and doesn't break through, then subsequently, however it rises, it will drop back down.
Is there a primary upward wave?
This wave of correction on the daily chart is called ABC, not a primary upward wave. What is a primary upward wave? If it breaks above 3460, I will definitely go long with my eyes closed.
This segment of 2700-2600 itself is a point of bull-bear game for ETH on the weekly chart, merely indicating that there is strong support around 2600-2700 leading to a rebound. But then? Did it change its downward trend? No, it didn't.
1. If it breaks and stabilizes at 3210, I will find long positions to target around 3450, then look for shorts.
2. If it doesn't stabilize and breaks above 3210, but instead is suppressed by 3210 and moves down as a bearish candle, I will still look for short positions.
