ETH

Congratulations on the profit. Yesterday afternoon, I analyzed the high short entry point for BTC, with a short position of 89,400. The low point yesterday was 86,600, successfully capturing a 2,800 USD profit. It is now 10:40 Beijing time. Let's analyze the current trend of ETH.
Bollinger Bands: From the four-hour chart, yesterday's high and low points are moving between the upper and lower bands. Currently, the Bollinger Bands are narrowing and running parallel, entering an ultra-narrow range of fluctuation. In the 4-hour chart, the short-term moving averages have formed a death cross and are trending downward. Multiple attempts to break through the 5-day moving average above have failed. If the subsequent rally cannot effectively stabilize above the short-term moving average, the market will decline again. The current short-term resistance is around 2960, and we will see if it can break through effectively later.
In the 1-hour chart, the Bollinger Bands are narrowing and running parallel. The price has been below the middle band for a long time. If the subsequent rally cannot break through the middle band effectively, the market will decline again. Currently, the short-term moving averages are overlapping and crossing, entering a parallel state, with the market in an ultra-narrow range of 2915-2935. From the daily chart perspective, the short-term moving averages have formed a death cross downward. The short-term resistance is around 3030. The daily chart shows a head and shoulders top pattern, indicating further downside potential, and the larger cycle still points to a downward trend.
MACD: On the 4-hour chart, MACD has formed a death cross below the zero line, indicating increasing bearish momentum. On the 1-hour chart, the double lines are below the zero line, with weakening bearish momentum.
RSI is in the normal trading range, with a value around 31-31.
Conclusion: Sideways consolidation.
Due to the US stock market being closed, the market is trading within an ultra-narrow range. The current levels are not suitable for trading. Focus on the US stock market opening on Sunday night and Monday.
High short strategy: Short position around 2970, add positions around 3060, stop loss above 3180.
Low long strategy: Long position around 2810, add positions around 2720, stop loss below 2620.