Crypto Circle Scholar: 4.26 Ethereum Double Top vs Golden Cross! Familiar Pattern! The Rule of 'Following the Drop, Not the Rise', How to Seize Trading Opportunities! Latest Market Analysis Reference
Ethereum current price 1800, it is now 4 AM Beijing time, let's first review the entry point I provided yesterday. The article mentioned more than 1730 at the beginning, the target broke 1800 to freely take profits. Before this article was published, the daily K-line peaked at 1826. Congratulations to the friends who followed along. Although the space is not large, less than a hundred points, the victory lies in stability, and the value lies in persistence and execution. Now that the K-line has broken the downward trend line, how to layout in the future is still the same as before, Ethereum's tendency to follow the drop, not the rise, will not change, so the short position at 1820 can be held effectively, just protect and set stop losses, the rest will be left to time.
Daily K-line highest 1826, lowest 1737, just back-tested the EMA30 trend line support point. Even if you are going long at this position, it is still a key support point. If it breaks below, stop losses must be set to prevent a market plunge. MACD has been continuously increasing, with DIF and DEA starting to push upward from a low position towards the 0 axis. The K-line continuously attacks the upper Bollinger Band at the 1800 pressure level, which must be broken after prolonged assault. This indicates that the K-line still has the momentum to break the previous high, so while trying a short position above 1820, one must also be mentally prepared to be stopped out, as gains and losses are derived from the same source.
The four-hour K-line has formed a double top trend above 1800, and the EMA is expanding upward alternately. It can be seen that the fast line has completed its expansion, but the medium and long lines have come together, concentrating chips around 1680. Coupled with the increasingly obvious divergence trend in MACD, as long as DIF and DEA do not break the previous high, a golden cross will not form. However, if a single K-line breaks the previous high, there is a high probability that the market will rapidly stretch and diverge quickly. The reasoning for the contraction of the Bollinger Band is the same; the upper band is blocked at 1825, and the lower band supports at 1725. The market is currently at the edge of extreme overbought, and the main force has suspicions of raising prices to dump. Be sure to take precautions.
Short-term reference: Safety first, small losses and big gains are the goal.
Northern trial entry point 1750 to 1730, defense 1680, stop loss 30 points, target looking at 1800 to 1840, breaking position looking at 1870.
Southern trial entry point 1850 to 1900, defense 1950, stop loss 30 points, target looking at 1800 to 1750, breaking position looking at 1700.
Advice for reference only, risk is self-borne $ETH