May 18 Monday midday market analysis

The second pancake triangle structure has been effectively broken, and short-term support has basically failed, with the market directly dropping to 2111, quickly piercing down to 2085. Currently, the second pancake must hold above 2130 to temporarily stop the decline;
Reclaiming above 2155, the rebound trend will then be initiated; once it falls below 2111 again, the 2085 low will be lost, and new lows will be quickly realized.
On the macro news front, it is known that Trump’s latest news is restarting the US-Iran war; if negative news appears in the evening, it will quickly cause a sell-off. Conversely, if the extension continues,
it will lead to a rapid correction in cryptocurrencies. On Tuesday, the reopening of the Iran stock market is heading towards a positive direction. The key is the Thursday Nvidia earnings report, which is crucial.
ETH trading suggestion: go long around 2100, add positions around 2060, and take profit at 2130-2160.