$ETH Evening Silk Road and Recommendations

The bearish flag pattern on the Evening Silk Road didn't break below the 2009 support level, which surprised me a bit. Is Yitai so strong? I hope you can stay strong; if you can't hold for more than 3 seconds and go soft, that would be embarrassing. Yitai seems to be forming an upward-looking shark pattern. Some might say, isn't this a bearish pattern? How can it be a bullish shark pattern? Just search online and you'll understand what’s going on—I won't explain further. Explaining is like talking to a cow; it’s pointless. The D point of this shark pattern corresponds to the price of 1936, the previous low. If it reaches this level, everyone should pay attention. If you want to go long, you can take a short-term long position here to catch the rebound. Alternatively, set a stop loss if it breaks below 1906-1900. If you’re not willing to risk a stop loss of over $30, then don’t bother trading—just go home and farm!

A rebound around 1936 is not only a bullish shark pattern signal. Did you see the red candlesticks I drew in the chart? There’s also a possibility of forming a double bottom pattern. Everyone should pay extra attention to this level. To rebound now, it must break through 2048. Hopefully, the 2009 level can hold; if it doesn’t, a waterfall decline will begin.

Yitai broke below 2014 with increased volume. Aggressive traders can chase short positions on the right side, and on the left side, half-position short at 2070 during a rebound. Pay attention to volume changes and set proper stop losses.

On the hourly chart, Yitai stands firm at 2048, aiming for 2075-2111.
On the 4-hour chart, if it breaks below 2022, look down to 1982-1936.

On the daily chart, I mentioned last week that from this week until Wednesday, if it doesn’t break above 2139 (the middle of the box), it will test 1905. Tomorrow is Wednesday. With Yitai’s current situation, can it still return above 2139? Unless the US-Iran conflict stops, there’s little hope. Moreover, if the daily candle closes with a pin at 8 a.m., it will form a double pin top on the daily level. The power of a double pin top on the daily chart—think about it yourself! This analysis is from a daily perspective. Pay attention to volume changes.

The above analysis is based solely on technical logic by Sister Lin and does not constitute investment advice. The market carries risks; invest cautiously.
$ETH