Market Analysis: Ethereum
From the market trends last night, we can see that Ethereum has shown two divergences at the 30-minute level. The first has been marked on the chart, and although the second wasn't marked, it is also a very obvious and clear divergence signal.
You can see from the chart that the lowest point was at 2:30 AM (I was already in dreamland), where the MACD was at a relatively high point compared to the previous price's new low, and the subsequent straight rise directly broke through the left central area, which also indicates a very strong trend.
In conclusion, the overall direction above 4 hours is still a bullish trend. However, due to recent factors such as interest rate cuts, there has been a situation of panic capital flight. But now the smaller time frames have turned upward, and the market has gradually improved in recent days.
Risk: Once again, I remind those who are stuck in short positions at high levels. If this time it can return to your cost position, you should do two operations:
1. Liquidate part of your position. If you can't bear to do it, remember to move your stop-loss point up. (Don't wait for it to drop again and then regret it)
2. After it rises, if you have started to make a profit, move your stop-loss point up, so even if it turns downward again, you won't be stuck again. (1 and 2 seem to say the same thing 😄)
3. In the future, when playing contracts, always add stop-losses, and try not to use high leverage. For Bitcoin and Ethereum, keep it within 20 times; for other altcoins, do not exceed 10 times, because leverage can only increase and not decrease. When you think the leverage is too high and want to lower it by increasing your position, you will find that you can't lower the leverage...
Finally, I wish everyone prosperity. Please give a follow.
👉 Scan the QR code with the Binance App to join the 【Damo Tea House Chat Room】