Ethereum Plunges | Back to the Monthly Bollinger Band | Range Oscillation

12.11 Long Road Video Analysis: Click to Watch

On the 4-hour chart, the market rebounded to a high of 2400, but was suppressed from above and pulled back. It just broke through the downward trend line below and rebounded around 2120. So, after the market has shown this pin trend, how should one operate and what will be the subsequent direction? It can be seen that the position of the pin is nearly 100 points, so the subsequent market trend will require oscillation and repair. If a rebound is to occur, it will first need to repair the bearish sentiment brought by this pin, as well as this large bearish candle. Only after a period of oscillation and repair around 2200, will there be an opportunity for a continued rebound. Attention needs to be paid to the resistance near the upper rail of the monthly line at around 2265. For the pin rebound, Long Road suggests observing this rebound first and entering a short position only if the resistance above is not broken.

Operational Suggestions: For more strategies, follow Long Road's Weibo profile @长路财经

Reminder: Strategies are for reference only. Trade with good stop-loss and take-profit measures. Set take-profit targets in batches and use trailing stop-loss to protect profits while avoiding excessive profit loss.

The cryptocurrency trading market is always in full swing. It is everyone's common desire to seize the opportunity and get a piece of the pie. Please believe that "the only thing missing between you and financial freedom is a long road." With Long Road's guidance, you will surely achieve your cryptocurrency wealth dream faster and more steadily.

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