Ethereum yesterday review

Yesterday during the day, Ether showed a strong rebound piercing through the lower Bollinger Band from the lowest point of 4480, rising all the way to 4630, an increase of 150 points. However, after the unemployment claims data was released at 8:30 PM, it dropped 200 points to 4430. The long and short positions exploded with 240 million dollars, and despite the US stocks and S&P continuing to rise, the market still did not reverse. This Friday is significantly affected by news, with 4 billion dollars in ETH options expiring and the release of PCE data at 8:30 requiring caution in trading.
Technical Analysis
From the 4-hour chart, it is currently in a pullback after failing to stabilize after breaking through the middle line of the Bollinger Bands. The Bollinger Bands show a trend of narrowing upwards, and the market will enter a consolidation phase in the near future. The three lines of the Bollinger Bands correspond to prices 4370--4525--4680, and the bearish momentum is beginning to weaken, indicating a potential upward test of the middle line.
The 4-hour chart MA indicator currently shows a short-term death cross downward trend, while the short-term moving averages on the hourly chart are parallel after a golden cross, and bearish momentum is re-emerging. The price is currently operating below the short-term moving averages, indicating a period of consolidation before choosing a direction.
The MACD indicator on the hourly chart is below the 0 axis with a death cross moving downwards, with bearish volume generating again. The 4-hour chart still shows a death cross and both lines moving down below the 0 axis, indicating a continued bearish sentiment below the 0 axis.
The RSI indicator is in the oversold phase corresponding to the value of 19-24.5. If the fast line turns, it will form a golden cross upwards, leading to a market rise. If it continues to decline and breaks below the value of 0, the market will panic, causing selling pressure and accelerating the downward trend.
Conclusion: The position is in a sideways consolidation downward.
Pressure: 4540, 4620, 4680
Support: 4430, 4320, 4200
High-altitude strategy: establish a head short position near 4580, add positions at 4660-4680, stop loss if it breaks and stabilizes above 4680.
First Take Profit: 4520
Second take profit: 4380
Long position strategy: Establish a primary long position around 4370, with additional entry points between 4250-4310. Set stop loss if it breaks and stays below 4200.
First take profit: 4520
Second take profit: 4620
For reference only, not an investment advice.