$ETH Evening Analysis of the Double Bottom

Currently, the overall situation of the double bottom is following the weak trend of Bitcoin, but it’s slightly more stable than Bitcoin, not falling as sharply.
Main idea: Rebound to short (follow the trend)
✅Entry reference: During the rebound to the 2285-2290 range, gradually open small short positions, with a stop loss above 2310 (which is the strong resistance at the 1-hour Bollinger middle band).
✅Target levels:
First target: Watch the intraday low at 2256; once reached, reduce positions to protect capital.
Second target: After breaking below 2256, look towards the 2230-2210 range.
The overall trend is bearish, following Bitcoin. Rebounds are opportunities to enter short positions. Don’t chase shorts; wait for a confirmed resistance level on the rebound.
Secondary idea: Short-term oversold long positions (try small positions for error correction, take profits quickly).
✅Entry reference: During a pullback to the 2255-2260 range, if it doesn’t break, try a small long position, with a stop loss below 2250.
✅Target levels: Focus only on the 2280-2285 range; once reached, exit quickly—don’t be greedy.
Currently, bears dominate; long positions should only be used for short-term corrections. Don’t try to bottom fish for a big rebound, as it’s easy to get trapped.
• 4-hour cycle: Price has already broken below the Bollinger lower band, MACD red bars are emerging, bearish momentum has not fully faded. The middle band around 2315 is a clear resistance; it’s not easy to push higher.
• 1-hour cycle: Bollinger bands are opening downward, price is hovering near the lower band, with the middle band at 2285 as the short-term first hurdle. If it can’t break through this, the rebound is basically an opportunity to add to short positions.
• 15-minute cycle: There are signs of a small correction, with the price pulling from the low of 2256, but momentum is weak. Resistance at 2280-2285 has not been broken, so downward movement could resume at any time.
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