Crypto Circle Scholar: Ethereum's first southbound trial on June 10th ends in failure! Tears in losses, lessons warned! Latest market analysis reference
Ethereum's current price is 2560, it is currently 1:30 AM Beijing time. This week's first southbound trial failed, after breaking the previous high, I chose to stop loss and exit, no resistance position, no more words, it’s all tears. Let's look at the market, the daily K-line highest is 2572, the lowest is 2475. Overall, the pattern that emerges is a wedge pattern, with a high probability of standing above 2600 again, like a frog in boiling water at a high position. The EMA's upward alternating diffusion trend has been disrupted and is now in contraction. Currently, the market shows signs of warming, the MACD continues to decrease in volume, the DIF and DEA are facing downward resistance at the 0-axis, and the middle line of the Bollinger Bands at 2560 has been lost. Pay attention to the upper line at 2690 and the lower line at 2430.
The current four-hour K-line trend is almost identical to many previous trends, so I won't copy it. Let's clarify the thought process again. After stabilizing above the EMA trend indicator top, the K-line stretched, the main force increased the position at 2550, breaking the upward trend line. The MACD continues to increase in volume, and the DIF and DEA start to impact the 0-axis. The upper line of the Bollinger Bands at 2550 has been lost, and a trend of expanding opening appears at the short-term level, with short-term bullish momentum opening up. It is expected to continue to stretch; aggressive traders can chase long positions, while conservative traders should wait for a pullback support to enter. For now, it is temporarily advised to mainly observe.
Short-term reference: Safety first. Remember that the market is never 100%, so always set a good stop loss. Safety first, small losses and big profits are the goal.
Southbound trial point 2620 to 2650, defense at 2675, stop loss 30 points, target looking at 2530 to 2480, if broken, look at 2450 to 2420.
Northbound trial point 2520 to 2500, defense at 2470 for shorts, stop loss 30 points, target looking at 2570 to 2600, if broken, look at 2630 to 2660.
Specific operations should be based on real-time market data. For more information, please consult the author. There may be a delay in the release of the article, and it is recommended for reference only. Risk is borne by oneself. $ETH