ETH

I mentioned earlier at 12.9 that ETH might push to a high point before starting a pullback, and the main theme this week has basically been adjustment. As a result, after ETH surged to 3447.44 on 12.11, it immediately turned downwards, and it has now dropped by 16%.

Long-time fans should be mentally prepared for this drop, as I've been saying it all last week, but the speed and intensity of the drop are still a bit surprising. So what should we do next?

ETH is currently in a pullback, not a new round of decline, but the pullback is likely not over yet. Recently, we need to pay attention to its reaction when it drops to the support zone in the chart, first confirm the stop loss at a smaller scale before trying to go long, and wait for the daily line to confirm the stop loss before adding positions.

Today, let's talk about how to find entry points. Take a look at Chart 2, this is the 1-hour candlestick of ETH's decline last night, and the red line is the price range I marked yesterday.

Seeing this kind of candlestick pattern, I won't take action because it reached the range without any pause, and the rebound is not strong enough, so I will continue to wait patiently. Looking at it now, the endpoint of this pullback is not too far from us. After finding the bottom of the adjustment this week, ETH will continue to attack toward 3500.

Stay tuned, and I will update immediately if there are any abnormalities.