Ethereum recap yesterday

Yesterday, during the day, Ether showed a strong rebound that broke through the lower Bollinger Band, rising from a low of 4480 to 4630, an increase of 150 points. However, after the unemployment claims data was released at 8:30 PM, it dropped 200 points to 4430. The long and short positions exploded with a total of $240 million. Subsequently, despite the continued rise in the US stock market and the S&P 500, the market did not reverse. This Friday, the market will be significantly affected by news, including the expiration of $4 billion in ETH options and the release of PCE data at 8:30, so trading should be approached with caution.
Technical Analysis
From the 4-hour chart, it is currently in a pullback after failing to stabilize after breaking through the middle line of the Bollinger Bands. The Bollinger Bands show a trend of narrowing upwards, and the market will enter a consolidation phase in the near future. The three lines of the Bollinger Bands correspond to prices 4370--4525--4680, and the bearish volume is starting to weaken, indicating a potential upward test of the middle line.
The 4-hour chart MA moving average indicator currently shows a short-term moving average dead cross downward trend, while the hourly chart short-term moving average golden cross has become parallel, and bearish volume is re-emerging. The market is currently operating below the short-term moving average, which will lead to a period of consolidation to choose a direction.
The MACD indicator on the hourly chart is below the zero line with a death cross moving downwards, and bearish volume is once again generated. On the 4-hour chart, it is still a death cross with both lines moving down below the zero line. Currently, the sentiment remains bearish below the zero line.
The RSI indicator is in the oversold phase with values ranging from 19 to 24.5. If the fast line turns upwards, it will form a golden cross and the market will rise. If it continues to move down and breaks below the value of 0, the market will panic, leading to selling pressure and accelerating the downward trend.
Conclusion: Fluctuation after the decline
Pressure: 4540, 4620, 4680
Support: 4430, 4320, 4200
High-altitude strategy: Establish a short position near 4580, add positions at 4660-4680, and set a stop loss if it breaks and stays above 4680.
First Take Profit: 4520
Second take profit: 4380
Long Strategy: Establish a primary long position near 4430, additional buying points at 4310-4370, stop loss if it breaks and holds below 4300.
First Take Profit: 4520
Second take profit: 4620