July 8 ETH Trend Analysis
Naked K: The market has validated yesterday's judgment, and today's K-line pattern suggests that the market will continue to oscillate. In a volatile market, it is advisable to sell high and buy low, and the longer the oscillation lasts, the more necessary it is to carry stop losses.
Trading Volume: The 4-hour trading volume indicates a risk point, as the 4-hour trading volume is gradually decreasing, diverging from the market.
Moving Averages: The daily moving average support zone is between 2503-2528, with the 20-day moving average at 2450 (if the oscillation ends and breaks down, then at least start buying long positions at this level).
Bollinger Bands: The daily chart is being pressured by the upper band, with the middle band acting as support. In the short term, the market is very likely to oscillate between the middle band at 2450 and the upper band at 2637, allowing for high selling and low buying. After breaking the middle band at 2533 on the 4-hour chart, consider buying long at the lower band at 2486, with upper band pressure at 2580.
MACD: The daily energy bars are decreasing, indicating a weakening of bullish momentum. During the upward movement of the 4-hour market, each peak is lower than the previous one, forming a divergence pattern, so be cautious with long positions.
Supply and Demand: The supply zone above is between 2576-2605 (4-hour level), 2815-2879; the demand zone below is 2502-2517, 2437-2448, 2370-2397.
Vegas Channel: The 1-hour support zone is between 2520-2526, 2495-2504; the 4-hour support zone is 2485-2498, 2438-2456, 2400-2406; the daily pressure is 2539-2574, with support at 2420-2443.
Personal advice for reference only: The K-line pattern indicates that the market is still in an oscillation phase, and it is possible to continue selling high and buying low. When breaking out, it is necessary to trade in the direction of the trend, and it is important to note that the longer the oscillation lasts, the more necessary it is to carry stop losses. The 4-hour trading volume and MACD indicate a divergence risk, so be prepared when trading. $ETH
