This 1011 insider whale operation is hard to understand! Is it really going to illustrate what a head and shoulders top and bottom mean? Is the script rehearsal feasible?
ETH pulled back to the daily midline near 3050 over the weekend, and after a false break in the 4-hour 5-wave structure, it reclaims the daily midline, initiating a small rebound in the daily 2-wave, before likely facing a large probability of a 3-wave downward pullback as Japan's interest rate hike approaches;
4-hour: Corresponding to the daily small rebound in the 2-wave, ETH may form a rebound in 3-waves or 5-waves in the 4-hour, depending on the U.S. market, the residual effects of the AI bubble, first focus on breaking through 3170 resistance and stabilizing, with small support at 3070, time frame 2-3 days;
Daily: After the 5-wave rebound on the daily, there is a high probability of a downward trend in 3-waves or 5-waves, with a possible peak starting in the second half of the week, followed by a decline influenced by Japan's interest rate hike; upper resistance is focused on 3250-3350, lower support at 2750-2850;
Weekly: ETH has failed to close above the 60-week moving average for three consecutive weeks, with a high probability of a second test down, looking at the trend support at 2850 and the major support at 2750, equivalent to a 2-wave correction on the weekly, with the low possibly occurring next week, observing the market reaction after Japan's interest rate hike and ensuring the previous low of 2620 is not broken;
Additionally, on the 19th, U.S. stocks, U.S. Treasury futures, options, and other quarterly settlements are occurring, compounded by interest rate hikes, so watch for significant volatility!
