$ETH Evening thoughts:
Looking at the chart: the second pancake is still moving within the box, consolidating and fluctuating. The position marked by the yellow box within the box has formed a bullish engulfing pattern, indicating that there will be a wave of upward movement in the future.
However, the prerequisite is to break through the box to continue the upward trend, only then can we look upwards to the positions indicated by the left white arrows, High One, High Two, and High Three. If the box cannot be broken, how can we expect to see higher levels?
The position circled in the left white box at 2997 for the second pancake absolutely cannot fall below 2997. This position, similar to the position of the big pancake yesterday, if broken, will accelerate the decline, and the area marked by the red box is the potential drop range for the second pancake.
Pay attention to the position at 2997; it is crucial. If it can stay above 2997, everything will be fine; if it breaks down, it will be disastrous.
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The second pancake breaks through 3041 with volume; go long on the right side, and if it breaks down 3013 with volume, go short on the right side. Pay attention to changes in volume and set stop losses accordingly.
The second pancake on the hourly level stabilizes at 3041 and looks upwards to 3108-3158. If it stabilizes at 3041, everything that needs to come will come.
On the 4-hour level, if it breaks down 3006, look down to 2959-2900.
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Continuing to look at the chart: the second pancake on the daily level can pull back to the upper boundary of the triangle for consolidation, but it cannot fall back into the triangle. If it falls back into the triangle, it will test the lower boundary of the triangle, corresponding to the price of 2839, or even break the triangle to a lower position.
In that case, the daily level of the second pancake will deteriorate, and that would truly be a disaster, a disaster beyond measure.😓 Meeting adjourned.
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