20251103 Strategy Analysis

Today at 07:00, there was a sudden stretch to 3914 to lure in more buyers, and then after the daily line closed, there was a direct plunge. As of now, at 21:18, the price has come down to around 3700.

Currently, it has reached the support level of around 3700 that was touched previously. It has tested this level no less than four times, and many people are entering long positions nearby for short-term trades. According to common reasoning, there is a high possibility that a wave of below-long positions will be cleared.

Combining the daily trend, my view is to continue being bearish. I will maintain a bearish outlook for the next two weeks. The first resistance at the top is 3920, and the second resistance is 4000. On the downside, we can see 3600 and 3400. Recently, it may fluctuate within the range of 3400-3900.

Today, Ethereum has dropped by nearly over 200 points, just a stone's throw away from 3400. Waiting for the follow-up. My plan is to short in batches at highs, with a stop loss set at 4050.