Fans ask if the time to buy ETH at the bottom has arrived? Don't rush!
Recently, ETH has been hovering around 1898, with an overall downward trend. In the short term, the price is being pressured by the 7-day and 30-day moving averages, and a bare-bones bearish candle has appeared, indicating strong selling pressure, with bears clearly in control. If it breaks below the previous low of 1896, it is highly likely to head towards the strong support at 1820.
My operational thought process:
Don't rush to buy at the bottom! Right now, the moving averages are crossing negatively + the trend is downward, and randomly catching falling knives can easily hurt.
If it breaks below 1896, just lie flat; better to miss out than to make a wrong move. If you really can't resist, you can only take a small position to short.
If it rebounds to the 1910-1957 range, hurry to escape or go short; this position is highly likely to be smashed down.
Key technical points:
K-line signal: Bare-bones bearish candle = bearish control of the market; rebounds are just opportunities for you to escape.
Moving average pressure: Short-term line breaking below long-term line = confirming market weakness.
This trend is clearly a bearish home ground, don't go against the trend! If you really want to bet on a rebound, do it quickly and get out, don't stubbornly hold on. Remember to set your stop loss well; in this market, it can turn against you in a minute!
This post serves as evidence, feel free to challenge 🤪 Once #Bitcoin
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