8.31 Trading Strategy

A bearish signal has appeared on the daily chart for $ETH, with 4510 being a critical support and resistance level. A breakout above this level would end the recent correction and restore the upward trend. However, $BTC is relatively weak, making strong upward movement difficult; if it cannot break through, it will continue to maintain the correction pattern. A reversal signal has also appeared on the 4-hour chart, and the stretch seen in the morning indicates that short-term bullish momentum is strong, bringing ideal entry points. In the short term, there will be a consolidation at local highs, and if a breakout does not occur for a long time, bullish momentum will weaken, at which point bears will need to take action.
Today's trading strategy:
Short $ETH at 4470-4510, stop loss at 4550, target to be determined.
Conservatives can look at today's closing situation. If the closing does not stay above 4510, it will increase the reliability of the bearish signal, and at that time, they can choose the opportunity to short.
#ETH走势分析  #ETH