When the Bollinger Bands tighten to the extreme, it could lead to either a spike or a drop – right now, ETH is stuck on a powder keg.
A Gui analyzes today's market and news:
Technical analysis:
Currently, ETH's price is hovering around 4305, below the middle Bollinger Band at 4574, like a student being punished to stand.
MACD's red bars are shortening, but volume is shrinking. The key support level is at 4250.
Today's news:
1. BlackRock's ETH spot ETF has been delayed once again. This news is bearish, but the market has already digested it in advance.
2. A giant whale transferred 120,000 ETH to exchanges early in the morning, which may lead to a sell-off.
3. Federal Reserve officials may hawkishly raise interest rates again. This news will likely lead to a rise in the dollar index, putting pressure on Bitcoin.
A Gui's personal beliefs:
The current market resembles March 2023; the scenario may replay.
At that time, ETH was also stuck at the lower Bollinger Band. After consolidating for three days, it suddenly surged by 15%. However, if it fails to hold 4250 tonight, it may replicate the flash crash from June.
Personal feelings:
This market indeed has a lot of uncertainties, and the risk is relatively high. I'm afraid it might come too slowly and also afraid it might come too quickly. This is the time that tests one's mindset the most.
A Gui's operating strategy:
Bullish: Wait for a breakout above 4400 with increased volume to confirm direction before entering.
Bearish: If 4250 breaks, go short, with a stop-loss at 4300. The stop-loss is set high to prevent an additional breakout.
Spot: Orders can be placed at 4200, near the institutional cost line, which is relatively safe.
Summary: Currently, the market is highly volatile, and brothers need to operate steadily. A Gui has also opened a $10,000 account, ready to enter this round of the market. Brothers who want to get on board, please contact quickly. A Gui personally leads operations for five fans. Ambitious fans should get on board quickly.