Crypto Circle Academic: Is the "Hand of God" pattern appearing in the Ethereum four-hour K-line on 5.18? Are bulls about to strike? Latest market analysis reference
The current price of Ethereum is 2470, and it is currently 1:30 AM Beijing time. The market has reached the support trend line near the ascending triangle, and there has not yet been an effective breakthrough, indicating that support is valid. Near 2450, it is possible to test a long position, ensuring to defend and have stop-loss in place. The rest is left to time. Since the market has arrived within our system's trading range, we can execute according to plan; otherwise, every time the market reaches a point, it is easy to be influenced by one's own fears and greed.
The daily K-line's highest is 2537, and the lowest is 2445. The EMA trend indicator's upward trend remains unchanged, continuing to show an alternating expansion trend. The EMA15 trend fast line has broken 2330 and continues to rise, expected to stop stretching and consolidate at the 0.382 Fibonacci level. The MACD has been continuously decreasing in volume, with a top divergence in the market, along with the situation of DIF and DEA contracting at high levels. There is a high probability that the main force is accumulating, with inducement behavior, because the upper Bollinger band is still stretching upwards, having reached 2865, while the middle band is at 2155. Thus, in the absence of a change in the larger trend, the bullish mindset remains unchanged, and we should act in accordance with the trend.
The four-hour K-line has reached the support point of the upper triangle trend line at 2450. The EMA60 trend support below is also near the trend line. Additionally, the four-hour line is continuously testing this position, indicating that support is valid for testing a long position. The MACD has been continuously decreasing in volume, with DIF and DEA pushing down towards the 0 axis, entering a two-level weathering phase. Bottom consolidation has become a foregone conclusion, and the K-line is also probing the support of the lower Bollinger band at 2550, consistently hovering around the lower band. Short-term indicators have also entered the extreme oversold area, indicating that a trend reversal may occur at any time. Since we have started testing positions, we should patiently hold and wait while ensuring to defend and have stop-loss in place until the trend emerges.
Short-term reference:
For southern testing points: 2630 to 2650, with a defense at 2680 and a stop-loss of 30 points, target at 2580 to 2540, breaking down at 2510.
For northern testing points: 2450 to 2430, with a defense at 2400 and a stop-loss of 30 points, target at 2500 to 2550, breaking down at 2600.
Specific operations should rely on real-time market data. The publication of this article has a delay; it is recommended for reference only at your own risk.