$ETH 🎉 Happy Mid-Autumn Festival! Another all-nighter has been streamed, and the theme has gradually developed around various directions such as cryptocurrency analysis, trading psychology, liquidation guides, faith recharge, and sleep comfort...
The overall direction is currently a bullish outlook, focusing on long positions for low entries, currently running above the ascending trendline on the 4H timeframe (thick black line), and has not broken below it; the bullish outlook remains unchanged, and the general direction is also bullish. If it breaks down in the future, it may turn bearish depending on the situation.
🌕 Current bearish outlook:
⭐ The current price is constrained by the pressure of the 4H descending trendline (the position will move), and it has not been able to effectively break through again. This is the first resistance level that Ethereum needs to break and hold to continue rising. A short position can be taken against this trendline, with a stop-loss at yesterday's highest point of 4618. This short position has weak resistance, and the stability of entering the trade should be considered carefully.
⭐ Important resistance levels above are 4645-4670, which is also a concentrated liquidation area for bearish liquidity accumulated in recent days; it is more reasonable to establish a head position for short orders from here. Counter-trend positions should be kept light.
🌕 Current short-term bullish outlook:
【4430-4441】 15min level horizontal neckline support, can go long briefly; it has been effectively tested 3-5 times before and can be used as a small position entry point.
【4385-4400】 1h level Vegas channel support band, can be used as the first add-on position (the position will move with time).
【4360-4380】 4h level important support at the ascending trendline, can be used as the second add-on position (the position will move with time).
The above three positions can be set as limit orders in a 1-2-4 or 2-3-5 pyramid style to achieve a better average price, responding to spikes, with a final average entry price to carry a stop-loss of 40-60 points downwards (varies by person).
🌕 Bullish outlook after breaking the 4H ascending trendline:
If it breaks below the 4H ascending trendline (thick black line), key support levels below are:
【4268-4288】、【4066-4088】、【3960-3988】、【3866-3888】
After placing orders at several positions, only short trades should be made to take profits on rebounds; no long positions should be established.
🎁 Try not to make short-term trades below the 1H level for Ethereum, as the space is narrow and the direction is unclear.
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