Looking at the situation with Ethereum, it is relatively better than Bitcoin, but the pressure is still very obvious, suffering from Bitcoin driving the rhythm. We can see that both are walking along the EMA7 moving average for an hour, and after testing the EMA30 once, there was buying support.
Today has been narrow range trading all day, and we are currently at the position tested twice yesterday at 6 AM and 5 PM. This position is indeed not ideal for sideways trading, but the fact that it did not break through the high position along with Bitcoin already indicates that there are opportunities for downward movement and greater space in the future.
We will not consider changing direction for now. The accumulation area given yesterday is between 2472. Compared to yesterday's strategy, both Bitcoin and Ethereum have provided accumulation opportunities, but Ethereum has given two exit opportunities at cost, while Bitcoin has not. This difference in frequency of movements already shows the main force's competition. There is no need to change direction for the time being; we are really worried about dropping to 2418 to reduce some positions and then adding back at 2468.
Currently, the only concern for Chiye is that many people have taken on very heavy positions. Yesterday, a stop-loss area for entering and accumulating was given, and although it is still far from the stop-loss line, and even the accumulation area has not yet been reached, some people are somewhat over-leveraged. It can only be said that high position sideways fluctuations are dangerous for both directions. You have encountered too few extreme situations, while Chiye has seen many. Therefore, three levels were given; normally, only two levels are provided.
Today has been narrow range trading all day, and we are currently at the position tested twice yesterday at 6 AM and 5 PM. This position is indeed not ideal for sideways trading, but the fact that it did not break through the high position along with Bitcoin already indicates that there are opportunities for downward movement and greater space in the future.
We will not consider changing direction for now. The accumulation area given yesterday is between 2472. Compared to yesterday's strategy, both Bitcoin and Ethereum have provided accumulation opportunities, but Ethereum has given two exit opportunities at cost, while Bitcoin has not. This difference in frequency of movements already shows the main force's competition. There is no need to change direction for the time being; we are really worried about dropping to 2418 to reduce some positions and then adding back at 2468.
Currently, the only concern for Chiye is that many people have taken on very heavy positions. Yesterday, a stop-loss area for entering and accumulating was given, and although it is still far from the stop-loss line, and even the accumulation area has not yet been reached, some people are somewhat over-leveraged. It can only be said that high position sideways fluctuations are dangerous for both directions. You have encountered too few extreme situations, while Chiye has seen many. Therefore, three levels were given; normally, only two levels are provided.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
ETH
2,428.71
-1.42%