Tuesday evening's latest thoughts on the big pancake
Market sentiment is experiencing a substantial recovery, with bullish momentum having formed a gradual upward trend after continuous accumulation. The core momentum of the market oscillating upwards is becoming increasingly clear, and the overall pattern exhibits characteristics of strong continuation.
The previously anticipated W-bottom pattern on the hourly level has been perfectly realized. This morning, the market surged to the neckline position of this pattern, briefly facing resistance and gradually probing down to the key support area at the bottom, followed by a rapid rebound from the bottom, effectively completing stabilization, thus fully establishing a double-bottom structure and laying a solid foundation for subsequent upward movement.
From the candlestick pattern perspective, the clearly recorded long lower shadow at the bottom intuitively confirms that the current support level possesses strong resilience. As the selling pressure momentum has been fully released during this round of adjustment, bullish momentum continues to gather, further strengthening the subsequent rebound momentum, with continuous signals of bullish attacks.
Big pancake: 89000-90000 long, →92000, 94200;
Ethereum: 3050-3100 long, →3200, 3340.
Personal opinion, for entertainment purposes only, not for investment advice!
