7.9 Jinglu Ethereum Morning Brief



Ethereum's recent rapid surge was only a short-term bullish impulse. After prices touched the upper Bollinger Band, a large number of profit-taking orders fled, encountering strong resistance at the 1740 mark. The bullish momentum has been completely exhausted. With the large bearish candlestick of a surge and fall, the bearish pattern has officially emerged. The short-term downward trend is confirmed, and the market is likely to continue declining.

Trading Suggestion
Go short at 1750-1770
Target zone 1630-1610
$ETH #Solana生态ANSEM暴涨 #美国比特币ETF净流入4026枚BTC #USD1链上质押享年化8.88%
ETH0.96%
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SecondaryMarketDeserter
· 4h ago
The shorting range of 1750-1770 is quite conservative; more aggressively, you can try around 1745.
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PunkRiskMgr
· 5h ago
Big bearish candle formed + profit-taking exit, indeed hard to recover in the short term, wait and see.
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AutumnTranquility
· 6h ago
I've been watching the 1740 resistance level for a long time, and it indeed couldn't break through.
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GateUser-55f70f75
· 6h ago
The suppression from the upper Bollinger Band is indeed accurate; the pattern of a high followed by a pullback is very textbook this time.
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DepegDaydream
· 7h ago
Bearish pattern confirmed? On the contrary, I think the sharp drop is a bear trap, wait for stabilization before deciding.
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