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Two Cakes' Trading Thoughts for Today:
On the 4-hour chart, the Bollinger Bands continue to open downward, the downtrend is very obvious, moving averages and various indicators all point to bearish sentiment.
On the 1-hour chart, ETH encounters strong resistance whenever it attempts a slight rebound and immediately reverses, continuously closing bearish candles and moving downward. The short-term trend is completely controlled by bears.
Currently, there are no meaningful rebound signals across all timeframes, the overall downtrend is very clear. Following the trend and shorting is the correct approach.
Two Cakes:
Short around 2060, 2100, targeting around 1960.
$ETH