[ETH] 1D, 4H

Ethereum continues its dull sideways movement over the weekend.
Looking at the 4-hour chart, it has been forming a box range after a sharp decline, moving within a relatively honest box.
It reminds me once again of the importance of drawing support/resistance lines.

However, what is crucial now is that if this boring sideways action continues, as I mentioned before, the short-term and mid-term moving averages will create a death cross below the long-term moving average, leading to a reverse arrangement. As shown in the daily chart screenshot, this kind of pattern has appeared frequently in the past. Therefore, if the price doesn't rise quickly, the moving averages will switch to a reverse arrangement, confirming the end of the season.

When such a sharp decline occurs, I usually teach my students to adopt a mindset of "buy low, sell high," engaging in spot buying and long positions. However, since Bitcoin's volume has been somewhat lacking, I feel uneasy. This time, I want to focus more on confirmation trades rather than counter-trend trades that catch the bottom.

I would feel more comfortable if the price rises above the major resistance level of 3,693 and the candles settle above it, or if it moves above the 200 EMA.

Since I don't think there will be a sudden surge right now, it seems best to trade using a support/resistance zone scalping strategy.

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