ETH

Macroeconomic:
1. The most hawkish official of the Federal Reserve, Director Bowman, spoke again: We should continue to shrink the balance sheet, and the policy statement needs more details; President of the Minneapolis Fed: The possibility of raising interest rates has not been completely ruled out.
2. The auction of 2-year and 5-year US Treasury bonds was not good, and the yields of US Treasury bonds rose across the board.

Technical Analysis:
1. There is support below the pressure above, and short-term consolidation is in a volatile trend. Be cautious of the potential false positives and false negatives during this period until the key support at 3600 and key resistance at 4000 are officially broken.
2. If the price weakens, pay attention to the potential formation of a head and shoulders pattern. Currently, there seems to be a formation of the left shoulder and head. If the price rebounds in the future, pay attention to the situation of the right shoulder. Even if the construction of the right shoulder fails (price pumps), there is no need to worry too much about the corresponding short order. Place short orders around the high resistance level. From a stop loss perspective, the risk-reward ratio is relatively high.
3. The BIAS indicator area is sticking together. In conjunction with the MA moving average indicator, the 1-hour timeframe shows a good situation of moving average repair. It is necessary to follow the key support level of MA200 and the short-term struggle between long and short positions around MA200 will determine the future direction.

Trading strategy: Overall, maintain a high selling and low buying strategy. Given that the short-term price is relatively close to the upper resistance, you can first pay attention to the opportunity for short orders during the day.

Short order: Try shorting lightly near 3950, stop loss at 4000, target 3850-3750-3700