Market Status: Are the Bulls Dominant?

Currently, the market is in the "short-term oversold rebound followed by bulls attempting to regain dominance" phase.
1. Support Confirmation: The 4-hour and 1-hour charts show ETH forming a clear double bottom or support stabilization in the 2886-2900 range.
2. Indicator Resonance:
• 1-hour/4-hour charts: Price has successfully broken through the middle band (BOLL) of the Bollinger Bands, MACD has completed a golden cross below the 0 line and started to expand, a typical rebound initiation signal.
• Daily chart: Price retested the daily middle band (around 2939) and closed higher, indicating the upward trend logic remains intact.
3. Conclusion: Bulls are favored in the short term. As long as the price stays above 2940 (4h middle band), upward momentum will continue.
II. Profit-Taking Target Suggestions
My cost basis is at 2900, and the current floating profit is very comfortable. I will take profits in stages:
• First target (TP1): 3000 - 3010
• Psychological level and near previous high on 15-minute/1-hour charts. Upon reaching this, reduce position by 30%-50% and move stop-loss to the entry price (break-even point).
• Second target (TP2): 3060 - 3080
• This is the upper band resistance level on the daily Bollinger Bands. If the market volume breaks through 3000, it will likely test this level.
• Third target (TP3): 3200+
• A medium to long-term target, depending on whether major positive news supports a breakout above 3100.
【Strategy Sharing】 ETH retests support confirmation, has the bulls' counterattack sounded?
Trading Direction: Long
Entry Price: 2900 (position established)
Profit Targets: 3000 / 3070 / 3200
Stop Loss: 2870 (stop if below previous low)
Trade Entry Idea:
1. Technical support: ETH retested the 2880-2900 support zone on the 4-hour chart, forming a clear stabilization pattern, with bottom volume starting to rebound.
2. Indicator recovery: 4-hour MACD completed a bottom golden cross, KDJ diverged upward, and the price has effectively broken above the middle bands on the 1-hour and 4-hour charts, signaling a shift from weak to strong.
3. Major trend analysis: The daily chart retest of the middle band support was effective, and the overall upward channel remains unbroken. Currently, it is in the second rally stage after retesting, with an excellent risk-reward ratio.
⚠️ Risk Reminder: Approaching the 3000 level may cause volatility. It is recommended to move the stop-loss to the entry price after reaching the first target to lock in profits!
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