eth trend analysis

Pay close attention to the release of the CPI data in the evening, which is very likely to influence direction selection.
K-line pattern: 1-hour level: Recently, a long bullish candle broke through the 3900 round number, and subsequently formed a short-term top structure in the 3950-3980 range. The price is currently retracing to around 3940 to test the EMA7 support. Daily level: For three consecutive days, it has closed bullishly, breaking through the 3800-3900 oscillation range, forming a bullish engulfing pattern. However, the long upper shadow of yesterday's K-line indicates selling pressure at the 4000 level.
Technical Indicators: MACD: 1-hour level DIF(26.09) is leveling off at a high position, red bars are shortening, daily MACD(-20.91) shows the initial appearance of a golden cross, but still remains below the zero axis. RSI: 1-hour RSI(60.01) has retreated from the overbought area, daily RSI(45.11) has just broken through the middle axis, monthly RSI(59.36) maintains a strong zone. EMA: 1-hour level EMA7(3939) is adhering to the price, EMA30(3892) forms dynamic support; daily EMA120(3872) forms a bullish defense line.
Trading Volume: 1-hour level: Volume increased to 32907 after breaking 3900, with a top reduction to 1404, in line with the characteristics of volume-price divergence. Daily level: Volume has continued to expand over the past three days, with a trading volume of 123935 on October 24, an increase of 159% compared to the previous day. #CPI数据来袭