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Last night, there was a sharp drop, then it took off directly, even the seemingly insignificant altcoins flew away.
How should we view this market pattern? Once the pattern is set, it will lead to defeat. I'm worried about closing the weekly chart like this, trying to recover all the declines.
During the day yesterday, I saw a bullish trend and a high point around 3500, but it just hit you before taking off!
If Ethereum's four-hour structure can effectively break through 3480, then the four-hour high should be around 3650-3800, because the eight-hour oversold rebound hasn't played out yet. However, the main focus is on the strength of the weekly close; if it closes bearish, it might pull back again!
The above views are for reference only and do not constitute investment advice!