Cryptocurrency Scholar: Will Ethereum Short-Term Double Top entice a short squeeze and create new highs on July 19? Can we still get in? Latest market analysis and reference suggestions
Ethereum is currently priced at 3615, and it is now 2:30 AM Beijing time. Yesterday, the market was at 3400 when the article was published, and today the highest point has begun to challenge 3700. The original plan was to head south to the 2525 golden ratio 0.786, but the main force did not pause and directly stretched violently at this position. Breaking through such key points and going with the trend is the safest, and there is no concern about missing out. How much can be captured depends on one's own understanding.
Before publication, Ethereum's highest point was 3675, the lowest was 3455, and the daily K-line has had six consecutive bullish candles. The EMA trend indicator is pointing upwards, the fast and slow lines are diverging, and the EMA15 fast line has already broken 3030 and is continuing to stretch. In the short term, even if the bulls pull back, the space is limited. MACD has continuously increased its volume, and the Bollinger Bands are also stretching upwards. Pay attention to the neck line support at 3525, which is also the 786 position of the golden ratio. As long as it does not break here, the northbound trend remains effective.
On the four-hour K-line, after the double top broke, it has again risen above 3600. The EMA15 has reached 3450, showing a stepwise upward stretch. The MACD top divergence continues, and the trading volume is decreasing but the K-line is pulling up. At this time, it is no longer suitable for speculative funds to enter. Rationally, it is advised to watch the show. The DIF and DEA high position expansion bullish trend is still there. The upper Bollinger Band is at 3745, the middle band is at 3360. Aggressive traders may continue to chase long positions, while conservative traders should hold onto their existing chips to stay afloat.
Short-term Reference: Safety first. Remember that the market is never 100% certain, so always set good stop-losses; safety first, small losses for big profits is the goal.
For southbound trial positions: 3700 to 3720, with a stop-loss at 3760, a stop-loss of 30 points, and a target of 3650 to 3600. If it breaks, look at 3550 to 3530.
For northbound trial positions: 3550 to 3530, with a stop-loss at 3510, a stop-loss of 30 points, and a target of 3600 to 3650. If it breaks, look at 3700 to 3740.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication; suggestions are for reference only, and risks are borne by the reader. $ETH