Market Analysis and Trading Ideas
In terms of the overall market, the current upward push at 116,000 points has encountered resistance and has not been able to break through the pressure level. The daily level shows a bearish trend. The 4-hour and hourly levels still reflect a downward trend, with only a 5-minute level showing a demand for a rebound, but the rebound space is limited.
During the decline, the support level at 112,000 points needs to be closely monitored—this position is both a turning point for tops and bottoms and an ideal entry point for a second buy position. You can place orders to go long here, while setting a stop loss of around 500 points. For those holding short positions, it is necessary to pay attention to reducing positions and taking profits near the 112,000 points; if this support level is broken, the targets below can be seen at 108,000 points and 105,000 points.
Regarding Ethereum, the price has fallen below 3,600 points, showing a weak performance at the daily level, and the 4-hour and hourly levels still reflect a bearish trend. A rebound appears at the 15-minute level, accompanied by a divergence in volume and price. During the decline, attention should be paid to the support level near 3,520 points, which serves as a turning point for bullish and bearish sentiment and can be considered a buying point. If it falls below 3,500 points, a stop loss is necessary.
During a rebound at the 15-minute level, 3,600 points is a key resistance level. If it cannot break through, long positions need to reduce and take profits; those caught in long positions should also plan for stop losses. Short selling can be attempted in the 3,590-3,600 point range, with a stop loss set at 3,620 points. Those not yet entered can rely on minor rebounds to set up positions. If the support at 3,500 points is lost, it may trigger a deep correction.
Will not bring fans to blow up positions, nor will I blindly open positions
It’s all about seeking stability and victory, taking steady steps. Those who want to profit should hurry up and get on board!
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