Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Recently looked at the 4-hour chart of Ethereum. Previously, I analyzed whether it would short at the resistance level of the downtrend line, using Bitcoin's movement as a reference. As a result, when it later rebounded, it was pushed back, and I exited at break-even, which is a bit regrettable for not capturing the full move of that short position.
Since the short-term rebound has already broken the previous bearish expectation, the subsequent strategy should shift to going long. The key level to watch is whether it can hold around 3050.
The upcoming operation can be considered as follows: wait for a breakout of the resistance level followed by a pullback to test the support. If it truly rebounds at the support level, that would be a good opportunity to go long. Conversely, if it breaks below the support, just cut losses and exit—don't chase the short position. This way, you can participate in potential rebounds while managing risk.