Liang Ge's opinion: Ethereum rose rapidly on August 29 and broke through the 10-day box oscillation pressure of 26850 and 1695. The current short-term pattern is that Ethereum's 4-hour level rising triangle has opened, with the upper trend pressure of 1743 and the lower trend support near 1640. Ethereum's short-term high has fallen back to 1695 to test the support. It should be noted that 1695 was the strong pressure of the original box that consolidated for a 10-day cycle before breaking through. After the strong pressure broke through, it became a strong support. At present, the 1695 hour level has been tested many times and has not fallen below. If it does not break, it will be a normal retracement and then continue to hit the secondary high to test the upper trend pressure test new high near 1745. On the contrary, if the entity falls below 1691 after consolidation, it will test the rising triangle trend support point near 1640-1650. The downward channel of Bitcoin's daily level opens the upper large cycle strong pressure secondary high point test position near 28500. Overall, the idea of doing a single line is to maintain short-term support and short-term fast entry and exit.......
Ethereum daily MACD indicator fast and slow lines reach below the 0 axis and turn sideways for adjustment. Short positions are consolidating with hollow shrinking volume. The hourly KDJ indicator three lines reach the 16.44 support and turn upward to diverge. The daily level stands above the MA10 daily moving average. The weekly MA5 daily moving average has strong pressure near 1746. The weekly Bollinger band middle track pressure is near 1832. The 4-hour BBL middle track support is near 1694.
Operation idea: Ethereum market price around 1698, long position, defense 1691, target 1710-1720. Ethereum plan to entrust short position around 1690, defense 1715, target 1670.
