Yesterday, ETH experienced two big dumps, with deep whipsawing. The Fed's interest rate cut stance is ambiguous, and the focus is on Friday. If there are more speeches supporting the rate cut, then the coin price will go up; if there are more speeches not supporting the rate cut, the coin price will go down. Currently, the bull run may be coming to an end, and it is the process of transitioning between bull and bear markets. I suggest everyone not to hold long term positions; the transition between bull and bear markets takes about 4 years: 2 years for the bull run and 2 years for the bear market, with a basic drop of over 2000 points, which is difficult for most people to bear. I recommend focusing on swing trading in the 4-hour and 15-minute charts. For weekly trend trades, if the weekly trend is bearish, look for suitable resistance levels to short; if the weekly trend is bullish, look for support levels to go long. Being impractical and not following the current market trends increases the probability of loss; after all, it involves dealing with money, so be cautious when placing trades.
Currently fluctuating in the range of 3554-3681, shorting position 3639-3650, stop loss 3553-3555, take profit 20 points. Short at 3681, stop loss 3685-3688, take profit 20-30 points. Not recommended to hold long, take profit and run.
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Yesterday, ETH experienced two big dumps, with deep whipsawing. The Fed's interest rate cut stance is ambiguous, and the focus is on Friday. If there are more speeches supporting the rate cut, then the coin price will go up; if there are more speeches not supporting the rate cut, the coin price will go down. Currently, the bull run may be coming to an end, and it is the process of transitioning between bull and bear markets. I suggest everyone not to hold long term positions; the transition between bull and bear markets takes about 4 years: 2 years for the bull run and 2 years for the bear market, with a basic drop of over 2000 points, which is difficult for most people to bear. I recommend focusing on swing trading in the 4-hour and 15-minute charts. For weekly trend trades, if the weekly trend is bearish, look for suitable resistance levels to short; if the weekly trend is bullish, look for support levels to go long. Being impractical and not following the current market trends increases the probability of loss; after all, it involves dealing with money, so be cautious when placing trades.
Currently fluctuating in the range of 3554-3681, shorting position 3639-3650, stop loss 3553-3555, take profit 20 points. Short at 3681, stop loss 3685-3688, take profit 20-30 points. Not recommended to hold long, take profit and run.