On August 12th, ETH evening thoughts

The hourly chart has repeatedly tested 4300 without breaking through, forming multiple small peaks. There is strong selling pressure in the upper area, and the probability of a short-term pullback is increasing.

The current price is constrained by the upper Bollinger Band at 4280 on the 4-hour chart. The MACD shows a bearish divergence signal; although the price has reached a new high, the volume of the energy bars is decreasing. There is a clear demand for a pullback, and the main strategy is to short during the rebound, with short-term support for a quick long position in case of a sharp drop.

ETH suggestion: short 4280~4300, target 4160→4140
If the entry point is not reached before the CPI announcement, give up on shorting and wait for right-side trading after the data is released.

4100-4140 long position, target 4200-4250

Personal opinion, strict stop loss!