The afternoon trend was stronger than midday. I didn't particularly want to open shorts after noon, mainly because before 4 PM, ETH's support is roughly around 2292 to 2288.


Although the 2-hour chart shows a death cross signal, there's also support near 2262 below, and the 4-hour and larger timeframes don't show obvious bearish divergence. The downside momentum looks insufficient, so holding shorts at this time would be somewhat uncomfortable. As mentioned this morning, when price was around 2378, you could consider a short position targeting 2336-2316, but that wave has already completed, so it's not suitable to repeat that trade.
For more aggressive traders, you could consider entering long positions around 2292.
Conservative traders avoid this level mainly because they feel the risk-reward ratio isn't attractive enough — if it breaks below here, the stop loss might need to be moved back several dozen points, which doesn't seem worthwhile.
As mentioned before, if price breaks through 2336, actually chasing longs is safer than waiting for a retest at 2292 to enter longs.
2292 is a key level to watch. As long as price can break through the small bearish candlestick on the left around 2328, the trend could potentially reverse rapidly upward, turning 2292 into the low point of a "V" bottom. So entering longs after this breakout tends to be more solid in actual trading.
Bitcoin follows similar logic — if it breaks through 74600, you could similarly consider chasing longs.
Follow Moyan, focus on contract spot ambushes, the team still has positions available, get on quickly #币 $BTC $ETH
BTC0,38%
ETH1,92%
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