Looking back at the market this morning, the trend of Ether is still bearish. In our live broadcast last night, we also analyzed that if it doesn't break 4660, we can short directly around 4640, and then look down to 4550, which corresponds directly to the market trend during our live broadcast. There is no hindsight wisdom involved; the broadcast is recorded, and it still shows a strong downward space. This morning, it fell below 4500 again, with support testing the bottom once more. The current price is around 4485.

From the current market perspective, Ether is retracing to the hourly level, step by step breaking below the support level, and is now approaching the 4450 position. If it breaks below 4450 again, the coin price will face a relatively large correction, which we commonly refer to as a secondary retracement. Moreover, from the four-hour level, there is already a trend of three consecutive bearish candles, and no bottom support has been observed. The bears continue to increase in volume, and today's bottom support is at 4380. Trading the morning big coin should provide a rebound before attempting to short.

Ether strategy: Short around 4500, target 4380 #美商务部拟上链发布经济数据#