8.2 Ether Morning Silk Road

Ether Luyao gave a short position at the 3860 line yesterday. I don't know how many people reached the target. Currently, the lowest has come to 3428, and Luyao has also entered the short position in batches, with more than 30,000 oil still held.

Recently, there have been two consecutive days of decline. Currently, the 4-hour chart shows a downward trend, breaking below the lower Bollinger Band, with bears in control. The KDJ death cross is oversold, indicating a potential rebound; however, the MACD bears are increasing, and the trend remains unchanged. If it is difficult to recover the middle band, there is a high probability of continued decline. Pay attention to the previous low support and the middle band resistance; the strategy should be primarily bearish, with opportunities to short on rebounds. If you are still holding, it is advisable to set a stop-loss to protect your capital.

Ether: Short in the range of 3520-3550, target 3400, if broken then look at 3200, each should maintain good defense.