$ETH Market Analysis

After reaching a high of 979 on January 15, BTC did not break 3448, and while everyone was fantasizing about ETH making a rebound to 3500, I poured cold water on it—“The BTC rebound is over, and the ETH rebound is also very likely over; 3448 does not have to be broken.” After this, ETH dropped nearly 49%.

On February 5, it was suggested that after hitting a low around 1800, a sharp rebound would begin, and up to now, ETH has risen by as much as 23%. Has the sharp rebound ended? What should we do next?

Chart 2 shows yesterday's red roadmap, and the movement from yesterday to today has almost completely followed the script. Chart 1 is the hourly chart of ETH, representing the current market situation.

In today's BTC tweet, it was mentioned that if BTC does not break below the 675 line, the likelihood of moving sideways increases. Correspondingly for ETH, if it does not break below the 2000 line, the probability of moving sideways will also increase. However, in a downtrend, ETH is always weaker than BTC, so we need to be more cautious with ETH going forward.

The red & blue routes lead to the same destination; both indicate the end of the first wave of rebounds starting from 1750. The current situation is a correction of the same level, which will end around two days before Gann time 2.15. The only difference is that the blue retracement is deeper, while the red retracement is shallower. The similarity is that the entire rebound starting from 1750 has not yet ended. After finding the endpoint of the adjustment, there will be another wave of rebound, at the same level as 1750-2152. #比特币 #以太坊ETF批准预期