ETH Price Structure Analysis and Directional Judgment on August 6


Taking the ETH/USDT perpetual contract as an example, looking at today's market, below 3485, the bears continue to retreat. According to the viewpoint strategy from the short post on August 5 at 0:18, continue to follow the short position opened near the first resistance level for the bears at 3731 for profit-taking. The next target price is 3497, and it is not recommended to blindly chase the short position near this level; breaking 3497 could see 3445 or 3395 nearby. At this point, it is usually necessary to reduce positions, with the remaining positions following defensive strategies. The first retreat to 3496-3445-3395 should focus on going long based on the 1-hour cycle 'Institution Strong Bull Turning Point Model' (a detailed explanation of this model can be reviewed in the live stream video), with the long position defended at 3319 (stop loss). If the long position is in the right direction, the first theoretical target price is around 3538, the second theoretical target price is around 3595, and the third theoretical target price is around 3725.
Disclaimer
The information and opinions in the report are for reference only and should not be considered as advice for actual investment targets or trading. Investors should assess whether to use the content of the report based on their personal investment goals, financial situation, and needs, and make independent investment decisions while assuming corresponding risks.
ETH-4.7%
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