Current Market: Are the Bulls in Control?

Currently, the market is in the "Attempt by the bulls to regain control after a short-term oversold rebound."
1. Support Confirmation: The 4-hour and hourly charts show that ETH has formed a clear double bottom or stabilized at a support level.
2. Indicator Convergence:
• Hourly / 4-hour chart: The price successfully broke through the middle of the Bollinger (BOLL) range, and the MACD has completed a golden cross below zero and started to expand, which is a typical sign of a rebound beginning.
• Daily chart: After bouncing from the middle of the Bollinger (around 2939), the price closed higher, indicating that the bullish trend logic remains valid.
3. Summary: The bulls are in short-term control. As long as the price stays above 2940 (middle of the 4-hour), upward momentum will continue.
Second, Profit-Taking Target Suggestions
My cost basis is at 2900, and the current unrealized profits are very comfortable. I will take profits in stages:
• First target (TP1): 3000 - 3010
• Near the psychological barrier and previous high on the 15-minute / hourly chart. Upon reaching here, reduce the position by 30%-50%, and move the stop-loss to the entry price (capital protection).
• Second target (TP2): 3060 - 3080
• This is a pressure level at the middle of the Bollinger on the daily chart. If the market can break through with volume, it is likely to test here.
• Third target (TP3): 3200+
• This is a medium to long-term target, depending on significant positive news supporting a breakout above 3100.
【Strategy Share】 ETH rebound and support confirmation, have the bulls launched a counterattack?
Trading direction: Buy (Long)
Entry price: 2900 (Position built)
Profit target: 3000 / 3070 / 3200
Stop-loss setup: 2870 (Stop loss if the previous low is broken)
Entry idea:
1. Technical support: After ETH rebounded from the support zone of 2880-2900 on the 4-hour chart, clear stabilization patterns formed, and trading volume at the bottom began to rise.
2. Indicator correction: The MACD on the 4-hour chart completed a golden cross, KDJ is expanding upward, and the price is above the middle of the Bollinger on the hourly and 4-hour charts, which is a clear sign of shifting from weakness to strength.
3. Overall trend analysis: Support at the middle of the Bollinger on the daily chart is effective, and the overall upward channel has not been broken. Currently, we are in the secondary rebound phase after correction, and the risk-reward ratio is excellent!