Crypto Circle Scholar: Ethereum shorts rise again at 8.6, the downward trend continues to seize the opportunity for a comeback! Latest market analysis and reference suggestions analysis
Ethereum current price 3680, it is now 1 AM Beijing time. It was clearly stated yesterday that the pressure level near 3715 indicates the end of the V-shape. Once the pattern is clear, we can move downwards. If you missed it, you can only wait for the next opportunity. We will move downwards from 3720. As for the details of the actual operation, it has been updated, and everyone can consult me for reference to see how I choose the entry and exit points.
Before publishing, the highest K-line yesterday was 3720 and the lowest was 3555. The EMA15 fast line support at 3586 has been breached. The next step is to see if the daily line pullback will break the previous low EMA30 line at 3409 and the Fibonacci retracement line support at 3346. If it holds, it will form a double bottom structure as a bullish indicator. Therefore, we can try to go long near the Fibonacci retracement line. Before this, the focus is on moving downwards. The MACD has started to increase in volume, with DIF and DEA opening downwards at a high position. The Bollinger Bands are contracting, and the upper resistance has reached 3900, while the middle resistance is at 3665, and the lower support reference is at 3405. The overall trend is mainly short.
The four-hour K-line has gradually regained the upward alternating momentum of the EMA trend indicator, but the fast line failed to reach its peak and has started to decline. Pay attention to the EMA120 support at 3535, which is also the point of overlap for the major support line. The MACD has continuously decreased in volume, and bullish momentum is weakening. The DIF and DEA have failed to impact the 0 axis and have started to retract below the 0 axis. If 3535 is breached, the bears will hit the previous low below. The Bollinger Bands middle support to focus on 3540, and the lower support to focus on 3350. The strategy is mainly short, with long positions as a supplement.
Short-term reference: Safety first. Remember that the market is never 100%, so always set a stop-loss. Safety first; small losses for large gains are the goal.
Long position trial points from 3430 to 3380, with a defense at 3340, stop-loss at 50 points, target looking at 3500 to 3550, and a breakout looking at 3600 to 3650.
Short position trial points from 3650 to 3700, with a defense at 3750, stop-loss at 50 points, target looking at 3600 to 3550, and a breakout looking at 3500 to 3450.
Specific operations should be based on real-time market data. For more information and details, you can consult me. The article has a delay in publication; suggestions are for reference only, and risk is self-borne.
