Crypto Circle Academician: Short-term space for Ethereum on June 20 is compressed! Limited floating range forms a zombie zone, latest market analysis and reference suggestions
Current price of Ethereum is 2511, and it is now 2:30 AM Beijing time. There have only been two real trades this week, the rest are all simulated, the market has started to boil frogs in warm water again, going south to 2530 can only settle profits around 2500 in the end. This kind of market can no longer be held, as the risks outweigh the rewards. What can be done is to have a determined heart and be prepared for two scenarios: either break through 2570 or retrace below 2400, and then consider whether to enter the market. Before this, doing swing trading will easily result in profits being given back,
Daily K-line peaked at 2546 and bottomed at 2483. The EMA trend indicator is under pressure, and the bottom support remains unchanged around 2425, with the top pressure level rising to around 2560. Coupled with the continuous decrease in MACD volume, DIF and DEA have also approached the 0 axis. Although the market is currently dominated by a bearish trend, it can easily reverse upwards. If the market reaches above 2550, one can try going south, or if it reaches around 2420, one can try going north. If the market continues to consolidate around 2500, then it’s time to rest,
The four-hour K-line is consolidating at the bottom, forming a strong support zone around 2490. The MACD is fluctuating back and forth, indicating that the consolidation continues. Today's high-pressure level has moved down from yesterday's 2570 to around 2550, with the middle track of the Bollinger Bands also at 2555, and the lower support moving down to 2460. Overall, the short-term has entered a consolidation period with limited floating space. Those who are conservative should rest, while aggressive traders should wait until the pressure or support is reached before entering the market.
Short-term reference: Safety first. Remember that there is no 100% certainty in the market, so always ensure to set stop-losses. The goal is to minimize losses while maximizing gains.
Southern trial entry point 2550 to 2570, stop-loss 30 points, target looking at 2500 to 2450, breaking below looking at 2400 to 2350.
Above 2550 to 2570, if broken, look for a target of 2600 to 2650, breaking above looking at 2700, stop-loss 30 points.
Northern trial entry point 2380 to 2350, defense at 2310, stop-loss 30 points, target looking at 2430 to 2470, breaking above looking at 2510 to 2550.
Specific operations depend on real-time market data. For more information, please consult the author. There may be delays in the publication of this article, and it is recommended for reference only. Risks are to be borne by the reader.