Crypto Circle Scholar: On July 23, the medium to long-term trend for Ethereum is bullish, while the short-term has entered a bearish phase! "Ice and Fire", how should one choose? Latest market analysis and operational advice analysis
Ethereum current price is 3700, it is now 1:30 AM Beijing time, always skeptical, but now believing, those market influencers who blindly encouraged retail investors to go long can be deleted, this wave of decline exceeded 200 points, wasn’t yesterday's headline eye-catching enough? It is normal for the main force to raise prices and then sell off, chasing highs and cutting losses doesn’t mean much anymore; the same thinking as yesterday applies. For those looking to go long, wait until the main force pulls back to the golden ratio line support at around 3525 before considering it, for now, hold onto your chips and survive
Before this article was published, the daily K-line had a maximum of 3800 and a minimum of 3615. The EMA trend indicator remains bullish, the EMA15 fast line support has broken 3300, and will continue to stretch, but the K-line pullback has not yet reached the support at the golden ratio line around 3525. Those looking to go long can wait a bit longer. MACD shows divergence, and the DIF and DEA are expanding upwards at a slower rate, bullish momentum is weakening, and the upper Bollinger Band has not decreased yet and continues to stretch, having reached 3940, while the bottom support is also rising, the overall trend is still bullish
The four-hour K-line is still stretching above the EMA trend indicator, the K-line has briefly broken the middle line of the Bollinger Band at 3715. The MACD and KDJ indicators show that bearish momentum is increasing, and the short-term trend is leaning bearish, looking at the overall trend; the lower space has not been reached yet. Only the medium to long-term trend is bullish while the short-term has entered a bearish phase. For those who haven't entered yet, wait patiently for further dips before going long
Short-term reference: Safety first, remember that the market is never 100% certain, so always set stop-losses; safety first, small losses and big profits is the goal
For southbound testing points 3910 to 3950, with a defense at 4000, stop-loss at 50 points, target looking at 3850 to 3800, break point at 3750
For northbound testing points 3600 to 3550, with a defense at 2500, stop-loss at 50 points, target looking at 3700 to 3750, break point at 3800 to 3850
Specific operations should be based on real-time market data. For more information, please consult the author. Article publication may be delayed, suggestions are for reference only, risks are self-borne
