ETH July 6th Real-Time Trading Thoughts

After a rally, the hardest part is not chasing, but judging whether this pullback is a shakeout or a sign of weakening.

Yesterday, ETH maintained a high-level consolidation overall, with market sentiment clearly cooling down, and capital starting to wait for new catalysts. This week, the market will focus on the Fed meeting minutes, the U.S. ISM services data, and the CPI data next week, all of which could act as catalysts for the next wave of movement. At the same time, the upcoming new round of negotiations between the U.S. and Iran is also worth watching.

From the chart perspective, ETH has entered a phase of consolidation since its rebound from 1550. After breaking a key level yesterday, the price began to correct, but the early morning session today tested the previous high again, indicating that bulls haven't given up entirely.

Next, the 1747-1725 area will be the most critical zone to watch today.

If the price pulls back to this area and stabilizes, with clear signs of a rebound, then this correction is more likely a time-for-space consolidation, gathering strength for the next upward move. However, if it breaks below and continues to weaken, caution is needed as the correction may deepen.

My real-time trading approach remains unchanged:

Don't chase highs, and don't blindly buy the dip. Only make trading plans based on signals from the chart.

If the price pulls back to 1747-1725 and shows a bullish signal that fits my trading system, I will consider following the trend. If no such signal appears, I prefer to respect the market and wait for the next opportunity.

Trading is not about proving yourself every day, but about executing your trading system every day.