Morning ETH Chart Reading

First look at the 15-minute and 1-hour timeframes—after the small cycle touched the 1700 integer level in the morning session, it indeed rebounded, and structurally it moved in a very "standard" way, forming an FB pattern, then gave a double bottom SB, followed by several trend candles pushing upward with volume!

But don’t get too excited, I don’t recommend placing breakout orders for longs right now. Switching to the 1-hour chart, after this wave of decline broke the trend, if it can’t even reach back to the previous high of 1750, then the overall downward structure has not yet changed. So today, the key level is 1750—only if it can hold steady, there’s hope! If it pushes up with no real strength and struggles to break through after a while, then intra-day short positions can be lightly entered at the current price to try.

As for longs, don’t chase high; be patient and wait for a pullback. The 1680 to 1630 zone is the area worth accumulating positions.

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