eth is currently grinding between 4200-4300, which does not mean it can't go down; this is the market maker playing with your mindset. The death cross on the 12-hour MACD is still hanging in the air, and it is the last station of the daily chart pullback. If we compare the weekly chart to the CEO, the daily chart is the manager, and the 12-hour level is the head of the marketing department. When it drops to zero and then strongly rebounds, this daily chart pullback will basically come to an end.

Therefore, from Thursday to Friday, there is a high probability of a certain movement. ETH is likely to accelerate its drop to the yellow line, which is the 30-day moving average (3974), near support, and then quickly surge back above 4300. Below 4072, one can gradually place light positions. Only after a rapid drop can a surge occur.

First, look at the bullish resistance at the 4k level. If it can break through 4444 in one go, turn bullish. If the pullback is below 4380, open a short.

Of course, if there is a direct rebound back above 4444 from tonight to tomorrow, everyone will be happy. But this possibility is very small. The information will be available on Thursday and Friday. The US stock market has fallen for several days in a row, theoretically, Powell's speech on Friday will ease the market a bit.

Many people directly expect a drop to 3000 or 2000, which is too subjective. It has little reference value for short-term analysis.