February 5 ETH Trend Analysis 📊

Naked K and Trading Volume: The daily line continues to carry volume, with trading volume remaining high, still in a downtrend, and this downtrend is still slowing down. The 4-hour K-line pattern shows multiple long lower shadows, indicating a resistance to the downtrend. The 1-hour is within a down channel.

Moving Averages: The daily line has retraced to the 5-day moving average, looking ahead to the 10-day moving average resistance at 2331. The 4-hour resistance is at 2260.

MACD: The daily line is still in a death cross state, anticipating a golden cross trend. The 4-hour shows a death cross trend, but it is possible to evolve into a golden cross.

Bollinger Bands: The daily line continues to decline along the lower Bollinger Band, while the 4-hour Bollinger Bands are starting to flatten. It is recommended to operate by selling high and buying low according to the upper and lower bands, with the middle band being the short position. Aggressive traders can initiate a short position at the middle band.

Supply and Demand: Upper Resistance: 2253-2294, 2345-2395, 2409-2428-2475. Lower Support: 2070-2108, 1750-1850.

Vegas Channel: High-level resistance is currently unreachable, with 1-hour resistance at 2401-2441, 2591-2638.

Fibonacci Sequence: The decline from 3045-2073 has a 0.236 retracement at 2302, a 0.382 retracement at 2444, a 0.5 retracement at 2559, and a 0.618 retracement at 2673. The resistance level at 2302 is still valid, with a focus on the 0.382 resistance level above.

Personal Advice for Reference Only: The current market is still in a downtrend, with the 4-hour line showing multiple long lower shadows, indicating that bulls are still resisting. If the bulls fail to resist, there is a possibility of a larger decline. Currently, short-term long positions are still not suitable for the market structure; it is recommended to focus on short-term positions and consider medium-term positions after the market reverses. Long-term remains a suggestion that the current price is at a low level and can be positioned, but not heavily leveraged.