Cryptocurrency Expert: 8.8 Ethereum Bullish Doomsday! This week may see a correction, latest market analysis and reference advice
Ethereum current price 3818, it is now 1:40 AM Beijing time, the signal for a downward trend did not arrive, but a stretch came after breaking 3700 and surged. Now we need to see if a double top structure will form. The strategy can consider trying a position south of 3900; if it breaks 3940, set a stop loss, but if it does not break, a medium-term layout can be made, closing in batches, with the target focusing on the golden ratio support around 3525 for complete liquidation.
Before publication, the daily high was 3865, and the low was 3645, with a market movement exceeding 200 points. The K-line has stood above the EMA15 fast line after the stretch. The MACD has been continuously shrinking and rising, with DIF and DEA appearing to contract above the zero axis, indicating a strong upward trend. The K-line directly broke the Bollinger Band median at 3690 and began to hit the upper resistance at 3931. Regardless of whether it can break through, those who like short-term trading can grab a short position above 3900 as long as they are not greedy; a risk of 30 to 50 points is relatively controllable.
The four-hour K-line shows a magical TD nine-turn market. If the daily line closes with a bearish line at 8 AM, then there is a high probability that a correction will occur this week, and the short-term bullish to bearish trend will be very clear, allowing for a downward move. The MACD has continuously increased in volume after this, but today's volume has not increased. DIF and DEA have not yet broken the momentum indicators; the fast line broke the upper Bollinger Band and returned to the channel. The resistance point to focus on is 3823, and the middle line is 3670. Considering all indicators, a downward move can be chosen above 3900, with a good defense. Currently, the trend is mainly bullish, and conservative traders can wait for a pullback to the support around 3750 to move north.
Short-term reference: Safety first, remember that the market is not 100% predictable, so always set a good stop loss. Safety first, small losses for big gains are the goal.
Northward trial position point 3750 to 3720, defense at 3690, stop loss 50 points, target looking at 3800 to 3850, if broken look at 3900 to 3950.
Southward trial position point 3900 to 3950, defense at 4000, stop loss 50 points, target looking at 3850 to 3800, if broken look at 3750 to 3700.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. Article release may have a delay, advice is for reference only, risk is to be borne by oneself $ETH