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Brother Tong's 6.1 ETH idea
$ETH Rebound to around 2020-2030 to enter the market, stop loss at 2050, first target at 1980, second target at 1950.
Although the weekly MACD momentum has weakened, it has not yet formed a true trend reversal.
The daily chart still operates in a weak zone, with MACD continuously below the zero line, RSI maintaining low-level oscillation, and the momentum unable to mount an effective counterattack.
On the 4-hour chart, the current price is always suppressed by the middle and upper bands of the Bollinger Bands, with limited rebound space, and the overhead trapped positions' pressure remains obvious.
The current feeling of ETH is:
It can't fall into panic, nor rise with momentum.
This market condition is most likely to follow a pattern of repeated oscillating decline.
For me, there is no value in chasing the market at the current position, but as long as it rebounds near the pressure zone, I will still prioritize buying opportunities.