Yesterday, I mentioned that Ethereum around 2000 is a weak support level, and I consider it a closing position for short positions rather than an opening position for long positions. Short-term long positions should be placed near the strong support at 1900.

Today’s candlestick pattern has already validated my prediction; the 2000 level indeed did not hold, and as it approached the strong support at 1900, a pin was formed, and a strong rebound appeared at 1927.
So, if you missed placing a long order around 1900 and now the price has already rebounded to around 1970, what should you do? Don’t rush. Generally, when a bottom is tested, it will undergo multiple tests. Therefore, after breaking below 2000 and touching the strong support at 1900, it’s unlikely to rebound immediately to reclaim the 2000 territory.
Furthermore, with the US stock market opening today, volatility could be significant. There’s still a possibility of pin-triggered orders around the 1900 level. Even for short-term traders, patience is necessary.