Ethereum has once again returned to the lower band of the four-hour Bollinger Bands, making it a good time to enter long positions!

The trend on Sunday showed little fluctuation, primarily remaining in a range, with the morning trend retracing to the lower band of the four-hour Bollinger Bands. According to previous trends, a retracement to the lower band often results in a rebound, so the morning strategy suggests focusing on low long positions!

【Analysis of the four-hour price trend】

K-line pattern:

Recent prices have oscillated around 2700, failing to break through the previous high of 2791.78, indicating significant resistance above. The support level is around 2650, which has been tested multiple times without being effectively broken.

Technical indicators:

MACD: Currently, both the DIF and DEA are negative, and the MACD histogram shows green bars, indicating that short positions dominate in the short term, but there are signs of convergence.

Trading volume:

Recent trading volumes have decreased, especially during price retracements, indicating a strong wait-and-see sentiment from both bulls and bears. Near key levels (like 2700), trading volume has slightly increased, indicating some contention at that level.

Morning trading strategy for stable profits on 2/17:

For Ethereum, it is recommended to enter long positions in the range of 26300-2650, with profit target points at: 2680-2700-2720.

For Bitcoin, it is recommended to enter long positions in the range of 95300-96000, with profit target points at: 97000-97600, and to continue holding if it goes above 98000!