Cryptocurrency Expert: Did the profit-taking of Ethereum's main force on May 31 trigger the crash? With extreme overselling, how to choose between long and short? Latest market analysis reference
Current price of Ethereum is 2550, and it is now 1:30 AM Beijing time. Let's recap: the article yesterday opened by mentioning the southbound journey starting again, and everyone knows the final profit point was 2560. The practical details have been updated for everyone to refer to. Let's take a look at the entry and exit points I chose. After all, I provide real-time data and real-time thoughts. Only after the market has completed its movement can we analyze the details. The reason for not choosing to go south again is that the pullback did not reach 2660, so we can only watch this sharp drop unfold.
The daily K-line reached a high of 2648 and a low of 2530. The daily K-line just fell to the EMA15 trend support level, which has not been effectively broken; there has only been a lower shadow. We can pay close attention to the next EMA30 trend support at 2400. After the MACD top divergence, the continuous reduction in volume is increasing positions, and the short selling momentum is constantly growing. The DIF and DEA dead cross are expanding downward at a high position. The Bollinger Bands are contracting; continue to focus on the upper track at 2690. The K-line has broken the middle track support at 2560, while the lower track reference is at 2440. Aggressive traders can short, while conservative traders should wait for the pullback and resistance level to open short.
The four-hour K-line has already broken the EMA90 trend support. The overall EMA trend indicators have shown a contraction, and there is a high probability that the market will impact the EMA120 support point at 2490. The MACD is continuously reducing volume while increasing positions. The DIF and DEA are starting to impact the zero axis downward. The lower track support of the Bollinger Bands at 2560 has been lost, and the downward trend of the Bollinger Bands is evident. The short-term indicators have entered the extreme oversold range. Pay attention to finding opportunities to go south after a short-term pullback to 2600; it is the safest approach. Before that, it is better to miss out than to make a wrong move.
Short-term reference: Safety first. Remember that the market is never 100% certain, so always set a stop-loss. Safety first, small losses and big profits are the goal.
Northbound test entry point 2420 to 2400 long, defense at 2380, stop-loss 30 points, target at 2470 to 2500, break watch at 2530 to 2580.
Southbound test entry point 2620 to 2600 short, defense at 2650 short, stop-loss 30 points, target at 2550 to 2500, break watch at 2450 to 2410.
Specific operations should be based on real-time market data. For more information, please consult the author. The article may have a delay in publication; it is suggested for reference only, and risks are borne by the reader.
