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Ether market analysis
Also follow up with you on the weekly level candlestick. Candlesticks at the weekly level show that the Ether Rebound performance in this round is very weak. We have previously noted that there is a lot of liquidity below the weekly level. Therefore, we would prefer to see Ether Rebound from the bottom rather than rise violently within a minute. Here's my take on the medium- to long-term trend.
If the weekly level falls further and falls below 2160, it will be an Unfavourable Information signal for the medium- and long-term market of Ether. Going back to the short period of time, is there a chance that there will be some strange movements? I think it's a bit difficult.
Xiongqi means that you can depict the trend according to the pattern. He's not a chess piece now, but you can depict him like a scorpion. If the scorpion shape, with the cooperation of the top momentum, grabs down to the 0.618 level and does not rebound beyond around 2335 in a day, then this mouth price has a potential downward opportunity. Rebound may be followed by a downward trading opportunity.
Therefore, if you are really bearish, you can pay attention to this pattern. Generally speaking, we look at consolidation, which is a break-type movement. After consolidation, once this point is touched, it will go directly to the left side to touch. Of course, your stop loss should be placed slightly higher above, and if you are not sure, you can watch for engulfing signals after a rebound at this position. Around 0.618, you can set a stop loss with the previous high, and then a bearish will be fine.