Currently, Ethereum is still in a sideways consolidation state. On March 5th, there was a false breakout, but it was immediately followed by a drop of over 200 dollars!!! This wave has trapped many bulls. Will the next wave break through the previous high?
Right now, there is a rebound occurring in response to this decline.
However, after the rebound, it is highly likely to continue to test lower levels!
The current key support level is at 1960. As long as it holds above 1960 for 1-2 hours,
this pullback can be considered over, and the bulls may have the opportunity to push against the upper resistance!
If it breaks below 1960 today, it indicates that the market cannot go up for now. The bulls will surrender again, and the market may continue to test the lower support!
The key support levels below are 1905-1870-1835,
Short-term strategy:
If Ethereum rebounds to around 2050-2100, a light short position can be set, aiming for 1955, and if it breaks, continue to look at 1905-1870!
This wave of Ethereum made an additional 50 points for long positions in the afternoon, and there will be new opportunities tonight!
In the afternoon, those who entered long positions around 1950 have secured a stable 2x return.
Friends who followed along on this wave can still take away several hundred dollars........
For those still holding, it's advisable to reduce positions, manage costs defensively, and maintain a stable mindset!
There is still a big market event tonight, and the next wave of strategy will be discussed in the chatroom.
Continue to set up positions in US stocks
