Ethereum Market Response

Currently at 3448

Last night at 22:30, Ethereum was oversold and rebounded

It kept rising until 5:00 AM

Gained over 9 points

Then during the afternoon, it showed a phase of

oscillating up and down, losing about a point

Now it is 19:36 in the evening

No signs of a unilateral breakout have appeared

Trading Strategy

First, assume no unilateral movement tonight, and expect oscillation until tomorrow morning

Bullish and bearish ideas are as follows:

Draw three lines

Current upper line at 3487

Midline at 3448

Lower line at 3400

The entry point for a short position is when the price approaches the upper line at 3487

Or a false breakout around 0.5 points

Place a short order

Set take profit at the midline 3448

Most likely hitting take profit rather than stop loss

Similarly for long positions

The second scenario

If tonight moves unilaterally

Trading strategy

Break above 3484 or below 3400

Then wait for a pullback or rebound with a strong bullish or bearish candle to follow the trend

Set take profit around 3 points or at previous high or low

Set a stop loss about 1 point

If stopped out, it proves we were wrong

Then it’s not a unilateral move

It’s either expanding rally oscillation or wide-range oscillation

There’s a chance for a fortunate outcome

Tonight, we operate based on two points

If a unilateral move occurs and aligns with our two-line strategy

Then we make money