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$ETH Attitude Silk Road and Suggestions
Although a bullish flag pattern was broken through, the closing price did not stay above 2333; instead, it repeatedly poked upward but the closing price was suppressed below 2333, as indicated by the white arrow. The current 2333 level is the dividing line between bulls and bears; if it cannot break through this level, the probability of a further downward correction is greater than the chance of an upward move. Only a break above 2333 can target the resistance zone marked by the red arrow at 2368-2393. Breaking through this resistance zone would then allow for a continued upward move toward previous highs and higher levels. If it fails to break 2333 and falls back into the flag pattern, it will definitely revisit the lower level at 2273.
The second bullish wave breaks through 2327 with volume, then pursue long positions on the right side,
Pay close attention to a volume breakdown below 2305 on the right side, then pursue short positions, and observe volume changes carefully, setting proper stop-losses.
The second bullish wave stands firm at 2333 on the hourly chart, aiming higher toward 2371-2397.
Focus on a breakdown below 2307 on the 4-hour chart, then look down toward 2272-2236.
The second bullish wave on the 4-hour chart poked upward with a false breakout of the box, but has now fallen back into the box. As long as the second bullish wave on the 4-hour chart does not fall below 2259, there is nothing to worry about; if it breaks below 2259, it will return to the consolidation zone marked by the red box below and continue to oscillate, reselecting a direction. As long as the second bullish wave on the 4-hour chart does not break out of the box in a day, the downward decline will not stop.
$ETH