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$ETH Evening Thoughts: Let the charts do the talking: The wedge of the second pancake has been broken through, and it is a genuine breakout with volume and price, not a false breakout. Although it has surpassed the resistance at 3057, it is currently not maintaining above 3057. If it can sustain above 3057, there is still a chance to challenge the upper resistance at 3127. If the second pancake is to pull back, it cannot break below the large bullish candle indicated by the yellow arrow. A retracement to the upper boundary of the wedge and returning to the interior of the wedge for consolidation is possible, but it must not break below this large bullish candle; if it does, the rise will be meaningless. If upward momentum weakens, it can move within this bullish candle for a slight adjustment before continuing to push upwards. 🍆 For the second pancake, enter long on the right side if it breaks through 3055 with volume, and enter short on the right side if it breaks below 3045 with volume. Pay attention to changes in volume and set good stop-losses. On the hourly level, if it stabilizes at 3073, look upwards at 3123-3169; after stabilizing at 3073, those two positions will be given one by one. On the 4-hour level, if it breaks below 3003, look down at 2959-2925; breaking below 3003 means the second pancake will pull back; if it doesn’t break 3003, there’s nothing to worry about. Continuing to observe the chart: still on the hourly level, if the second pancake is to perform ab=cd, this wave of increase could see around 3216. 3216 is also an important resistance level for the second pancake, breaking through leads to great potential, but this is just a potential target position; it is uncertain when it can reach it. If you have long positions at the bottom and are unsure where to take profits, it might be worth waiting around 3216 to take all profits or at least take most profits before aiming for higher positions. Meeting adjourned.
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