$ETH Bitcoin Evening Thoughts

✅Buy the dip on long positions
Wait for the price to retrace to the 2310-2320 range, then enter once it stabilizes, with a stop loss below 2300.
Target first at 2340-2350, if it breaks through, then aim for around 2360, and take profits at the resistance level.
✅Light position short
If the price reaches 2340-2350 and doesn't break above the 1-hour Bollinger middle band, and the 15-minute chart starts turning downward, try a small short position.
Stop loss above 2360.
Target is to retest 2310-2300.

• 4-hour timeframe: The price has indeed broken below the Bollinger middle band, and the MACD has formed a death cross, indicating that the bullish rebound momentum is lacking, and the bears are now more dominant.
Currently, resistance is stronger than support, and the middle band has turned into a hurdle for the rebound, making it harder for the price to go up.
• 1-hour timeframe: The Bollinger bands are still opening downward, and the price has been pressing below the middle band. Although the bearish red bars are shrinking and it looks like a rebound, there are no clear reversal signals yet, just a weak correction.
• 15-minute timeframe: Although there is a small short-term rebound, it cannot break above the upper Bollinger band. RSI has started to decline from high levels, and the MACD green bars are also shrinking, indicating the short-term rebound is likely a trap, and the price will continue to retest support. Do not chase the high.
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