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ETH trend analysis!
The previous 3 times ETH retraced by 14% marked the short-term bottom, and now it is the 4th time retracing by 14%.
Based on the previous analysis, I believe a short-term bottom has appeared. Moreover, ETH has also reached the support of the 8-hour EMA.
MACD: The bearish momentum is weakening in the 4, 6, and 8-hour timeframes.
However, the rebound ratio after each pullback is constantly decreasing, 40% 20% 12%.
This time I see a rebound of 5 points (5%), which means it can reach around 4290.
Conclusion:
I am bullish first, after it rises to 4250, other KOLs will start to be bullish, but once they become bullish, it will drop because there isn't much space above.
Let's wait and see.
#加密市场回调