$ETH Evening Silk Road and Suggestions

The second wave did not break the support at 2174; it only dipped below it with a false break, and this dip just happened to land exactly at the lower boundary of the bullish flag pattern, hitting the G point precisely. Then it started to rebound upward, breaking through the bullish flag pattern. Currently, 2200 is the resistance level for the second wave. As long as it breaks through the 2200 resistance, it can look toward 2233 and the previous high. Only after breaking the previous high can it aim for new highs. Conversely, if it falls below the support at 2174, the bullish flag pattern will also be broken, and a break below the bullish flag at 2119 will occur. Why must the second wave break through 2200 to rise? Because the current hourly highs and lows are decreasing, and 2200 is the neckline. Only by breaking through 2200 and creating a higher high can a sustained rebound continue. Do you understand? If 2200 cannot be broken, it will continue to fluctuate around 2200-2174 with sideways movement.

For the second wave, volume breakout above 2193 on the right side indicates a long entry; volume breakdown below 2170 on the right side indicates a short entry. Pay attention to volume changes and set good stop-losses.
The second wave on the hourly level stands firm at 2193, aiming upward toward 2225-2252.
On the 4-hour level, a break below 2178 points downward toward 2127-2086.

The 4-hour second wave has attempted twice to break above the upper boundary of the box but has not succeeded; the resistance at the upper boundary of the box is quite strong. However, the pullback did not break below the middle axis of the box, which is at 2144. As long as the pullback does not fall below 2144, there is still a chance to push upward. The Fibonacci 1:1 target has already been reached. Whether it can go to 1.618 depends on two conditions: first, the pullback must not fall below the middle axis of the box at 2144; second, when breaking through the 1:1 target again, it must stabilize above 2214 to have a chance to reach the 1.618 level. Missing either of these conditions means failure. $ETH