Crypto Scholar: Has Ethereum's four-hour chart broken the upper Bollinger Band at 5.2? The bullish trend remains unchanged, signaling to sell on spikes! Latest market analysis reference
Ethereum's current price is 1845, it is now 3:30 AM Beijing time. Yesterday's article started by saying that shorts dare not enter the market, and even when it retraced to 1730, they still didn't dare to go long? When will they? What about now? Ethereum has already broken the previous high. At this time, both bulls and bears are fearful. If you want to enter the market, you can only wait for the next pullback. Those who have already boarded at 1850 have exited halfway; the rest depends on whether the main force can break the previous high of 1875 again. If not, it's better to take profits. Some traders entered short at 1850, which is fine, but be sure to take precautions. If it doesn't break below 1820, you can only exit with a small profit.
The daily K-line reached a high of 1875 and a low of 1790. The EMA30 and EMA15 have ultimately overlapped; it has risen to 1760. If the next K-line retraces and does not break this position, the overall trend remains bullish. For now, the K-line is pushing toward the EMA60 resistance level at 1920; this is worth paying attention to. The MACD has been continuously reducing in volume, and the divergence at the higher level is evident. Coupled with the polarization formed by the DIF and DEA, the market is likely to spike and sell off, so it's advisable to set up stop-loss and take-profit points, as it’s hard to exit at the best point manually. The upper Bollinger Band has reached 1900, and the middle band has reached 1700. The range now has entry points for short positions outlined. Let’s look at the short-term indicators.
The four-hour K-line has formed a double top, currently holding at 1875. The EMA trend indicator is still pointing upwards, indicating that the bullish trend has not been reversed. The double top resistance will cause the main force to consolidate above 1850. The MACD has been expanding in volume, and the DIF and DEA have formed a golden cross. Additionally, the four-hour K-line has broken the upper Bollinger Band at 1855 three times in a row. This alternating upward diffusion trend poses a high risk for shorting; conservative traders can wait until it drops to key support before going long, and currently, it’s not advisable to short.
Short-term reference: Safety first; small losses and big gains are the goal.
For northern entry points: 1760 to 1730, with a defense at 1700, stop loss at 30 points, target looking at 1800 to 1840, breaking down to 1870.
For southern entry points: 1900 to 1930, with a defense at 1960, stop loss at 30 points, target looking at 1850 to 1800, breaking down to 1760.
Advice is for reference only; risk is self-borne $ETH
