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$ETH
What if I say ETH will return to around 2200?
Would I get flamed to death?
Actually, this isn't the first time I've said it.
Let me explain my reasoning and views.
As we can see,
ETH began a strong surge on the 19th, Qixi,
then entered a narrow ascending channel,
and has been consolidating ever since,
within a 4-hour trading range.
In this kind of market,
after the shakeout ends,
it will most likely return to the starting point of the narrow ascending channel,
which is around 2260,
and then rise again,
giving those who didn't enter earlier a chance.
Of course, I've also said
that 2200 cannot be broken,
because it is the 50% Fibonacci level.
It's not that breaking below it is impossible;
it's that there will be no momentum afterward.
These are just my personal views...
Feel free to discuss.
Here are today's suggestions for ETH long positions:
Go long at 2434
Set the stop loss at 2400
Add to the position in batches around 2410
Suggested take-profit levels: 2450-2465-2480-2500-2515
Always set a stop loss when opening a position.
Never hold a losing position indefinitely.
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