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4.13 Monday Mu Feng Ethereum Morning Analysis
On the 1-hour timeframe, the bears have full control of the market. The price is deeply embedded in a weak downward channel, and the single-direction selloff rhythm is clear. The Bollinger Bands are opening downward; the midline at 2200.44 forms a strong pressure level. The price repeatedly rebounds and tests, but repeatedly meets resistance and falls back. Overhead selling pressure is dense, and the bulls’ counterattack has no force. The lower band at 2179.02 is effectively useless as support, and the prior low at 2173.00 has become the bears’ core offensive target.
The KD indicator forms a death cross and continues to move downward. Bearish momentum keeps expanding. Bullish rebounds are weak and lack follow-through, and the downtrend in a weakening range is clearly established. Every time price rallies higher, it becomes an excellent opportunity to short.
Trading idea: Place short orders within the 2230-2260 range. Targets are 2150-2100. Strictly control risk and trade in line with the trend.