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11.19 ETH midday analysis:
After rebounding from the lower band of the Bollinger Bands to near the middle band on the 1-hour level, the alternating candlesticks indicate a consolidation, which is by no means a signal for upward momentum accumulation, but rather a clear warning of exhausted upward rebound momentum!
The bullish strength continues to weaken, and signs of a bearish counterattack have already emerged. The middle band of the Bollinger Bands at 3107 has formed a rigid pressure barrier. The probability of a short-term pullback far exceeds the possibility of a rebound, and blindly chasing longs at this moment is equivalent to stepping on a landmine. Being bearish is currently the most prudent core strategy!
Trading suggestion: Precisely position short orders in the 3050-3100 range, with the first target hitting the 3000 round number, and the second target 🗡️ at the 2890 key support level, locking in segment profits steadily!
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