$BTC Let me talk about ETH. On the minor level, this secondary high retest is very strong, but as long as it's near the previous high, shorting remains the best risk-reward choice. Currently, the price is approaching the secondary high again, already entered short position, and the pattern is at 4h level. Looking at the price about to touch the ascending wedge and rectangle upper trendline resistance level.
The ascending wedge is a bearish pattern, and the upper area belongs to a strong resistance zone that won't break through so easily, so my prediction for this wave is that the probability of a bull trap is relatively large. Then on the daily level, although it's in a golden cross trend, the volume continues to shrink. Simply put, we're currently at a golden cross but with weak price expansion, constantly oscillating up and down. The golden cross may be about to be digested, once it's digested it will immediately turn into a death cross. Volume continues to weaken, the midline is extremely unfriendly to bulls, this is an uptrend weakening signal.
$BTC Let me talk about ETH. On the minor level, this secondary high retest is very strong, but as long as it's near the previous high, shorting remains the best risk-reward choice. Currently, the price is approaching the secondary high again, already entered short position, and the pattern is at 4h level. Looking at the price about to touch the ascending wedge and rectangle upper trendline resistance level.
The ascending wedge is a bearish pattern, and the upper area belongs to a strong resistance zone that won't break through so easily, so my prediction for this wave is that the probability of a bull trap is relatively large. Then on the daily level, although it's in a golden cross trend, the volume continues to shrink. Simply put, we're currently at a golden cross but with weak price expansion, constantly oscillating up and down. The golden cross may be about to be digested, once it's digested it will immediately turn into a death cross. Volume continues to weaken, the midline is extremely unfriendly to bulls, this is an uptrend weakening signal.