$ETH Evening Analysis of the Second Candle

✅Go long and wait for a pullback around 2350-2360, do not break below and try with a small position, stop loss just below 2340.
✅You can try a small short around 2380-2390, with a stop loss above 2400, first target near 2360, if broken then look at around 2340.
4 hours
On the 4-hour chart, the price is still steadily above the middle band of the Bollinger Bands (around 2320), overall still leaning bullish, no breakdown.
The key is this middle band; as long as it’s not effectively broken downward, the main trend remains bullish; if it’s truly broken through, be cautious of a pullback to support around 2270.
1 hour
The 1-hour Bollinger Bands are still opening upward, after the price dropped from the high of 2398, it pulled back to the middle band (around 2350) and then moved up again, now just hovering above the middle band.
This is a critical point: if it holds, there’s still a chance to push to 2390-2400; if it doesn’t hold, it will drop to the lower band at 2307.
15 minutes
In this rebound, the price moved directly from the lower Bollinger Band to above the upper band, now seriously overbought, RSI has shot up to 89, and KDJ is almost at the ceiling.
Chasing at this position is risky, as it’s easy to buy at the small peak of the rebound, leading to a quick pullback.
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