Cryptocurrency Expert: On May 3, Ethereum's upper shadow line frequently appears. Retail investors should not blindly chase long positions. Latest market analysis reference
The fundamental of trading is survival, and then comes profit. I hope you can understand this,
The current price of Ethereum is 1850. It is now 3 AM Beijing time. Yesterday, it was mentioned that if Ethereum reaches 1730, look at the previous high. If the previous high is not broken, long positions can take profit and exit. Before publishing, Ethereum still hasn't broken the previous high, so have you exited? Don't be greedy; this range has already given over 140 points of space. Take the profit and don't hold on, especially in a situation where there are continuous upper shadow lines. There is a high probability that the main force will accumulate at the top and then have a deep pullback, so we need to defend a bit.
The daily K-line reached a maximum of 1871 and a minimum of 1812. The EMA trend indicator still shows a long-term downtrend. EMA15 and EMA30 are still in an overlapping phase, with the overlapping point being the support level of 1765. The MACD continues to decrease in volume, and the gradient is downward. The K-line divergence is blocked upward, and the DIF and DEA continue to show polarization. Therefore, we have reason to believe that the main force will gradually heat up above 1800. The upper pressure level of the Bollinger Bands has reached 1916, while the middle track is at 1705. In terms of strategy, you can enter at any position.
The four-hour K-line shows a double top, with the 1870 pressure level being effective. Short positions can be tried at high levels, with good defense and stop-loss measures. The target can be viewed at the strength of EMA30 support at 1810, while the flag support to watch is at 1730. The MACD's volume is decreasing, while the DIF and DEA remain at high levels. The K-line fell back after hitting the upper track of the Bollinger Bands. Pay attention to the support at 1815. A new range is forming, and the subsequent entry points will need to wait for the trend to become clear. For now, focus on the short-term.
Short-term reference: Safety first. Remember that the market is never 100% certain, so always set a stop-loss. Safety first; small losses with large profits are the goal.
For short positions, try an entry point from 1760 to 1730. Defend at 1700, stop-loss at 30 points, with a target from 1800 to 1840, and a breakout target at 1870.
For long positions, try an entry point from 1900 to 1930. Defend at 1960, stop-loss at 30 points, with a target from 1850 to 1800, and a breakout target at 1760.
Specific operations are based on real-time market data. For more information, you can consult the author. There may be a delay in article publication; the advice is for reference only, and risks are borne by yourself.