ETH Analysis: This morning we suggested considering short positions in the range of 3020-3050 points! This is still valid; brothers who haven't entered yet can consider getting in at the high points, with a defense level still at 3120 points!

In fact, during this period, Lao Jin has been paying attention to the high range between 2850-3050 points above. The market broke through 2850 points and stabilized last week, which has already been considered. The market at a high level may be facing a resistance level around 3050 points.

Currently, the view on short positions is that if the previous volume level in the 4-hour structure does not break the 3050-point line, the short position strategy remains valid! The market trend over the weekend is relatively slow, with a false breakout at the 3050-point 4-hour structure touching the resistance level around 2980 points. The effective range is temporarily between 29800 and 3050 points, and the market is currently at the high point of a small box range. As we just mentioned in trading, shorts can further ambush in advance. The key focus for the lower market target is the breakout situation around the 2980-point line, and the take profit point is recommended to be considered around the 2880-point line. The upper space defense is recommended to remain at the 3120-point line in the morning. The high point of the range reached around 3090 points on Friday evening, and the defense point is still the 3050-point line. This is to prevent the market from continuing to create a double top at the high point, so the risk control point must not be too conservative. The downtrend in the market cycle has not yet opened up, and for those who are cautious, it is also a good choice to initially enter half, keep the defense unchanged, and wait for the market to break down below 2980 points before increasing positions in line with the trend.

Regarding the bullish outlook: The market is currently in a short-term phase of oscillating upward, with the key resistance level that needs to be focused on being the previous high point near 3050 points which has seen significant selling pressure! For the ongoing bullish outlook, we maintain a wait-and-see attitude for now, as the market has not yet shown a valid breakout in the 2980-3050 points range on the 4-hour chart. Therefore, it can be determined that the selling pressure at the upper level is very concentrated. If the market continues to break through the high point, there will definitely be a significant increase in volume breaking through the chip zone below, forming an upward chip zone between 2980 and 3050 points, which will greatly weaken the downward trend in the future. Thus, whether from a technical perspective or from the current profit-loss ratio of going long at the upper levels, it is not the best choice. Friends who are optimistic about a continuous bullish trend may as well wait for the market to truly break out and stabilize above the 3050 points before entering, which would be a more stable approach. Therefore, the current view on bullish positions is to hold a conservative opinion and not consider entering long positions at high levels!

In the past few days, Lao Jin has mentioned the above views more than once. The evening market performance may make everyone feel somewhat lacking in confidence, but based on the current range performance, there is no need to worry too much!