Yesterday's Market Recap

Key Trends:
00:00-07:00: Asian morning rally, pushing from 2057 up to 2088 (intraday high)
05:00: Spike: sudden drop to 2008 then rapid rebound to 2075 (V-shaped reversal, long lower shadow)
07:00-09:00: Stagnation around 2080-2088, decreasing volume
09:00: Start of decline: breaking below 2070 with accelerated downward movement, persistent selling pressure
09:00-22:00: 13 hours of continuous decline, from 2080 down to 2007
22:00: Touch at 2007: intraday low, then slight rebound to close at 2024

Typical Pattern Yesterday: Morning rally → Peak attempt
2088 blocked → Afternoon continuous decline → Evening bottom at 2007

Today’s Hourly Trend Tracking
Key Trends:
00:00-03:00: Early morning low volatility, oscillating around 2015-2030, bottom at 2013 at 03:00
04:00: Volume surge: about 20,000 ETH traded in one hour, from 2023 straight up to 2051 (main force entering)
05:00-09:00: Continued upward push, hitting 2085.67 at 08:00 (approaching yesterday’s high of 2088)
10:00-11:00: Range around 2076, volume shrinking
12:00-15:00: Starting to fall back, from 2073 → 2062 → 2052, afternoon selling pressure re-emerges

Technical Pattern Analysis
1. Double Top Pattern
Two peaks: 2088 on 3/10 and 2086 on 3/12, nearly at the same level, a classic double top
Neckline: ~$2,007-2,013 (double bottom support zone)
Volume Divergence: The second top (today) has significantly less volume than the first, indicating weakening bullish momentum
If breaking below the neckline at $2,007, the downward target ≈ 2007 - ((2088-2007)) ≈ $1,926

2. Double Bottom Support
Two bottoms: 2007 on 3/11 and 2013 in early morning on 3/12
$2,000-2,013 forms a clear support zone, with strong buy orders supporting both lows
If breaking above $2,088, double bottom confirmed, target ≈ 2088 + ((2088-2007)) ≈ $2,169

3. Intraday Repetition Pattern
Yesterday and today’s movements are highly similar:
Early morning rally → Peak at 2085-2088 → Resistance and decline → Afternoon continued decline
If today repeats this pattern, weakness may persist into the afternoon and evening

4. 4-Hour Converging Triangle
From the 4-hour chart, the high points (2088 → 2086) and low points (2008 → 2013) form a symmetrical triangle/wedge, with price near the lower middle of the triangle, approaching a decision point.

Forecast
Bearish bias (short-term, this afternoon to evening)
Reasons for short-term bearishness:
Double top resistance: 2088 twice unbroken, clear selling pressure
Afternoon repeated selling pressure: similar to yesterday, morning rally followed by afternoon decline, pattern repeating
Volume and price divergence: volume at today’s peak weaker than yesterday’s, bullish momentum waning
Position bias: current 2056 has broken below the morning range of 2065-2075, confirming short-term weakness
But avoid overly bearish outlook
Support reasons:
Double bottom at $2,007-2,013 is strong, with large buy orders supporting twice
$2,000 psychological level provides strong support
Daily chart remains in a rebound trend since the 3/8 low of 1910

Trading Recommendations
Short bias.
If pattern repeats yesterday, expect a decline back to $2,020-2,035 tonight. Watch whether support at $2,007-2,013 holds. Holding = triple bottom, stronger support; breaking = double top confirmed, target 1926.

Reversal Signals:
Volume breakout above $2,088 with stabilization confirms double bottom, turning bullish.
Summary: Currently in a $2,007-2,088 range, with double top + afternoon selling pattern indicating short-term weakness, but strong support at the bottom. Direction likely to be decided within 1-2 days, closely monitor which level breaks first: $2,088 or $2,007.