Tong Ge 6.24 ETH Strategy

$ETH Around 1690-1710, stop loss below 1730, first target 1650, second target 1580

Yesterday, a sharp drop to 1633, the momentum was strong enough to completely extinguish the previously accumulated recovery sentiment. Now, bouncing back to around 1670 from the low point, it looks like a stop to the decline, more like a normal correction after a sharp drop.

The rebound after a sharp decline is most likely to trigger a bottom-fishing impulse, but the problem is that although the price has bounced, there is no obvious capital inflow, and the resistance above is still there.

True strength is not just a quick bounce after a fall, but being able to hold after bouncing up. The market has not yet proven this.