Don't think about buying the dip, continuous washout underway, more shaking needed

Short-term chart signals
• Price level: Currently around 2063, firmly standing above EMA5/10/30/60 moving averages, short-term uptrend at full strength
• BOLL bands: Price hugging the upper band, strong recovery signal evident, giving the battered market some breathing room
• MACD: DIF crossing above DEA, red histogram continuously expanding, golden cross confirmed, bullish momentum releasing
• KDJ/RSI: Indicators leaning bullish but not yet at extreme overbought, suggesting sentiment warming but not yet euphoric.

1. Not a bull market restart: Large timeframe moving average (EMA120) still exerting pressure from above, medium-long term trend hasn't turned
2. Emotion recovery is the main driver: More like a "final flash of light" after the crash, giving trapped traders a chance to break even
3. Risks remain: RSI/KDJ already heated, pullback possible anytime, don't get blinded by short-term momentum

In this "major crash with minor bounce" market, seeing ETH still holding above moving averages is already quite resilient.
But don't forget, the market is still in "tribulation period," regulatory implementation and geopolitical easing are the real signals for warming.
Rather than chasing this short-term bounce, it's better to focus more on larger timeframes—after all, crypto never makes money on one or two days of charts 💡