From the daily level, there are technical differences between Ethereum and Bitcoin (especially in the early morning, Ethereum went out of an independent market, Bitcoin continued to fluctuate downward, so it was embarrassing to miss the target yesterday). However, the topic is not big. I think Ethereum may rise and then fall. Now the trend is moving as expected. Many friends were concerned about where the high point of Ethereum was yesterday? Where is the upper pressure? In fact, the theoretical high point is near the MA5-day moving average of the weekly and five-day lines (because of the appearance of the gap, the actual price that needs to be repaired is near the five-day line). Then my personal view on this pull-up is that it is a pull-up repair and then a downward adjustment. Then the short-term high point is more difficult to predict, because this kind of repair rebound sentiment may not completely repair the gap. It depends entirely on the face of the dealer. The height is estimated to be no more than the five-day line, and then the market will continue to fall in large volume after the repair is completed.
From a daily technical perspective, the current KDJ and MACD are still leaning towards oscillating downwards. The current lower BOLL band has opened up, and please note that the entire band continues to move downward. In the main chart, the MA5 daily moving average has shown a decrease in volume compared to yesterday's increase, and the high-point MA10 daily moving average continues to press down, which indicates that the selling pressure above is still relatively strong. Today, the coin price has once again formed a red TD1 (if this red TD1 stabilizes, it means the arrival of a new round of bearish sentiment). Therefore, my personal view on Ethereum's current trend is still firmly focused on shorting during rebounds.
From a 12-hour perspective, although there was a slight rebound in Ethereum sentiment early in the morning, this rebound rhythm has also affected the KDJ and MACD indicators of Ethereum. However, the BOLL still maintains a downward posture, and there is still a relatively large space between the lower price and the coin price. In the main chart, the MA5 has shown a slight upward turn, but the MA10 and MA30 daily moving averages have not interacted with it, which indicates that the short-term rebound has not affected the current high selling sentiment. Therefore, for intraday short-term trading, I personally suggest continuing to focus on shorting during rebounds.
Summary: I personally expect that today the mainstream (Bitcoin and Ethereum) will continue to decline in volume. The intraday trading idea is to short during rebounds, with the key support level for the lower points still around the 3114-2900 area.
Based on the current 4-hour trend being relatively stable, I estimate there won't be significant fluctuations during the evening. The next sensitive time period is from 8 PM to 10 PM.
The above is my personal analysis of the intraday market, for reference only.
