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Today's Ethereum Market Analysis and Trading Suggestions
Ethereum's intraday rebound has once again provided a short-selling opportunity. Li Hui currently holds a short position established above 1820, with a stop loss placed above the previous high. If it breaks out, it will result in a small loss! Many fans express confusion regarding this wave of high-level consolidation. Li Hui has mentioned in previous articles that as long as it fails to break through the previous high, it is an opportunity to enter short positions. There’s no need to fear if it’s not a one-sided market. It’s clear that Bitcoin has repeatedly failed to break through in several waves, and Ethereum is no different. There’s nothing to be afraid of; just manage your stop loss well and don’t let market fluctuations influence your judgment! Big opportunities are always grasped by a few contrarians. Moreover, Li Hui believes that the cost-effectiveness of shorting at this position is quite high! Finally, I hope fans will remember to manage their stop losses during the May Day holiday outings! Wishing everyone a pleasant experience, and Li Hui will always be vigilant in safeguarding you!
The 1-hour K-line of Ethereum once again attempted to break through above 1840 last night and formed a pullback. Li Hui has also established a short position above 1820, which is currently being held. Those with profits may consider reducing their positions and placing their stop loss above the previous high. Learn to use profits to set stop losses! This will increase the probability of a sharp decline after a high-level consolidation. Li Hui has always believed that the downside space is greater than the upside? I wonder if everyone has this thought?
From the perspective of the fast and slow lines, the death cross has once again formed an opening and is approaching the 0-axis position with a downward trend. The volume has increased again below the 0-axis, and the K-line is closely aligned with the lower track, indicating a continuation of bearish momentum!
The 4-hour Bollinger Bands channel has not undergone significant changes yet, with the lower track still above yesterday's low. However, the convergence of the fast and slow lines has failed again, leading to divergence. If the morning close cannot pull back to form a golden cross, there may be significant bearish momentum in the coming days! If there is another rebound opportunity today, those who have not entered the market can still consider shorting as long as the previous high and EMA300 levels are not broken! It is not advisable to chase long positions at high levels!
Today's suggested short entry point: above 1840, with a stop loss at 1870 and a target of 1770. If it breaks below 1760-1745, one can continue holding until around the 1700 level. Specific entry opportunities can also be adjusted based on the strength of the market rebound, seeking short opportunities based on the strength of the rebound!
Ethereum's intraday rebound has once again provided a short-selling opportunity. Li Hui currently holds a short position established above 1820, with a stop loss placed above the previous high. If it breaks out, it will result in a small loss! Many fans express confusion regarding this wave of high-level consolidation. Li Hui has mentioned in previous articles that as long as it fails to break through the previous high, it is an opportunity to enter short positions. There’s no need to fear if it’s not a one-sided market. It’s clear that Bitcoin has repeatedly failed to break through in several waves, and Ethereum is no different. There’s nothing to be afraid of; just manage your stop loss well and don’t let market fluctuations influence your judgment! Big opportunities are always grasped by a few contrarians. Moreover, Li Hui believes that the cost-effectiveness of shorting at this position is quite high! Finally, I hope fans will remember to manage their stop losses during the May Day holiday outings! Wishing everyone a pleasant experience, and Li Hui will always be vigilant in safeguarding you!
The 1-hour K-line of Ethereum once again attempted to break through above 1840 last night and formed a pullback. Li Hui has also established a short position above 1820, which is currently being held. Those with profits may consider reducing their positions and placing their stop loss above the previous high. Learn to use profits to set stop losses! This will increase the probability of a sharp decline after a high-level consolidation. Li Hui has always believed that the downside space is greater than the upside? I wonder if everyone has this thought?
From the perspective of the fast and slow lines, the death cross has once again formed an opening and is approaching the 0-axis position with a downward trend. The volume has increased again below the 0-axis, and the K-line is closely aligned with the lower track, indicating a continuation of bearish momentum!
The 4-hour Bollinger Bands channel has not undergone significant changes yet, with the lower track still above yesterday's low. However, the convergence of the fast and slow lines has failed again, leading to divergence. If the morning close cannot pull back to form a golden cross, there may be significant bearish momentum in the coming days! If there is another rebound opportunity today, those who have not entered the market can still consider shorting as long as the previous high and EMA300 levels are not broken! It is not advisable to chase long positions at high levels!
Today's suggested short entry point: above 1840, with a stop loss at 1870 and a target of 1770. If it breaks below 1760-1745, one can continue holding until around the 1700 level. Specific entry opportunities can also be adjusted based on the strength of the market rebound, seeking short opportunities based on the strength of the rebound!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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