🔥CPI data release is imminent, where to find investment opportunities in crypto?
Yesterday, the market trend was influenced by important speeches, and with the rise of the US stock market, the prices of Bitcoin and Ethereum surged. Tonight, there are two key factors worth our attention: first, the impact of the CPI data release on the news front, and second, the trend of the US stock market. From the current market trend, the overall volatility is not significant; the market seems to be building momentum, waiting for the data release and the opening of the US stock market to break this delicate balance. So, at this sensitive point of data release, how should we operate to secure stable returns?
Ethereum four-hour price trend analysis
K-line pattern
Recently, Ethereum experienced a pullback after a rapid rise in the 4-hour cycle, forming a large bearish candle, which clearly shows the presence of selling pressure in the market. Observing from the daily level, the price has experienced significant fluctuations in recent days and is currently in an adjustment phase, likely still searching for strong support in the short term.
Technical indicators
- MACD: The current indicator is in the negative territory, but the negative bars show signs of shrinking, which indicates that the downward momentum is gradually weakening, and the possibility of a rebound in the short term is increasing.
- RSI: The value is close to 50, neither entering the overbought territory nor the oversold territory, indicating that the market currently lacks a clear trend direction, with bullish and bearish forces relatively balanced.
- EMA: The short-term EMA7 is below the medium and long-term EMA30 and EMA120, showing that the short-term trend is still bearish. However, if the price can stabilize, the short-term trend may gradually turn bullish as time goes on.
Trading volume
During the previous sharp price fluctuations, the trading volume significantly increased, fully reflecting the intensity of market sentiment. Currently, the trading volume has shrunk, indicating that the market is digesting the previous large fluctuations, waiting for new driving factors to guide the direction.
Stable profit strategy for Ethereum on the evening of April 10
Based on the analysis above, we have formulated the following stable profit layout strategy:
- Short position entry: It is recommended to enter a short position when the price reaches around 1600 - 1590, targeting points at 1550 - 1530 - 1480.
- Add to short position on pullback: If the price shows a trend pullback, consider adding to the short position near 1630, with target points at 1600 - 1580 - 1530.
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