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Evening Attitude Silk Road
$ETH
The trend before Attitude dropped in the early morning was very good because Attitude had already retraced back into the flag pattern and was about to break out of the range to challenge higher highs. Who knew this would happen? It’s really unpredictable! Subsequently, it broke below the range, with the lower boundary at 2345 acting as resistance for the second wave. When can it regain inside the range? When can Attitude stop falling and rebound, looking up at the middle line and upper boundary of the range? If it cannot return inside the range, it’s useless. Although Attitude experienced a pullback, it did not break below the bullish consolidation zone marked by the red box. Instead, it has been oscillating within this trend, between 2345 and 2302. Remember today, as long as Attitude does not break below 2302 support, it will not test the previous low near 2257. If it breaks below 2302, it must revisit 2257. If it doesn’t break below 2302, there’s nothing to worry about—just let it consolidate in your mind.
Attitude with volume breaks through 2339 to chase long on the right side;
2310 with volume breaks below on the right side to chase short;
Pay attention to volume changes and set good stop-losses.
On the hourly chart, stay above 2339 and look up to 2373-2402.
On the 4-hour chart, if it breaks below 2321, look down to 2279-2245.
On the daily chart, no matter how much Attitude oscillates and retraces, as long as it does not break below the price corresponding to the flag pattern at 2250, everything is within controllable range.
Breaking below 2250 means you can’t control it anymore, and a daily-level correction officially begins.
Look at the MACD on the daily chart pointed by the red arrow below; it is currently hovering near the zero line. This is very dangerous.
Once the daily MACD of Attitude re-enters below the zero line, it shifts from a bullish to a bearish control.
Then, only rebounds and shorting remain.
So, Attitude should be rallying now; if it doesn’t rally, even the yellow croaker will turn cold.
But I personally think it’s very difficult. $BTC