$ETH
The big boss is cutting losses and leaving the market. Is ETH temporarily stabilizing, and is a reversal signal already present?
Currently, ETH is temporarily stabilizing near the gap from the surge and the weekly support level, and the daily chart is very strong, with almost no upper shadows. It has been reported that Yi Lihua has also been cutting losses and reducing leverage. For now, let's look for a daily rebound. The daily resistance level to aim for is the middle band of the daily Bollinger Bands. If it breaks through the middle band, we look at the upper band, and if it breaks below the middle band, we will continue to look for a bottom. According to the theory of cycles in technical analysis, ETH is currently experiencing a one-hour segment rebound, aiming first at the target range of 2300-2350. The second buy in the one-hour segment is the time to enter, so be patient and wait for a downward segment to emerge in 10 minutes. For now, let's look at around 1890, specifically observing the 10-minute structure; wherever the structure falls, that's where it will be.
Currently, the 10-minute segment has already completed two central pivots, and there has been a potential top divergence on the 10-minute chart. Whether the high point is broken in the afternoon or not, the second sell in the 10-minute segment is likely to occur. The rebound segment in the 10-minute chart is probably nearing its end, so just be patient and wait for a reversal segment in 10 minutes.