【6.27 Ethereum is really volatile!】 A rollercoaster of crashes and surges? You’ll really miss out if you don’t read this operation guide!
Yesterday, Ethereum rebounded from 2405 to 2520 during the day but couldn’t hold, fell back to 2465 and then bounced back, tried to break 2500 but fell back again, dropping to a low of 2380 before stabilizing, now hovering around 2420. Bitcoin wasn't idle either, rebounding to 108200 during the day before dropping down, then bouncing back to 108000 but couldn't break it, and finally stabilizing around 106500 before currently fluctuating around 106900.
Yesterday, Mengke stated that the market would rebound to around 2495-2515 where there would be pressure, and if it didn’t break, it would be a good time to enter short positions. Friends who followed this advice should have made a nice profit from this short position.
From a technical perspective: Ethereum's daily chart rebounded to the middle track and then fell back, forming a long upper shadow doji. The MACD bearish momentum is decreasing, and other indicators show signs of moving upwards; stabilizing around 2380 in the morning, the pressure above is at 2450-2515, and support below is at 2380-2400. The 4-hour chart rebounded to the Fibonacci 0.5 position (around 2500) and faced resistance, rebounding after testing the 0.382 support; the MACD bearish momentum is increasing, approaching a death cross, but other indicators are moving upwards, with support from the lower track, likely rebounding first to around the middle track at 2430; the Bollinger Bands are narrowing, and if 2520 is the A wave of this rebound without an extended wave, there might be a B wave pullback; if it can form an ABC three-wave pattern, it will be clearer.
Today’s operation will first look for a rebound. If it can break the pressure at 2430, then watch the resistance at 2460-2480; if it cannot break and there is pressure above, it would be a good time to enter short positions.
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