Cryptocurrency Scholar: The bearish trend for Ethereum at 2200 still persists! Can the bulls make a comeback? How should we handle trades around 2200?
The current price of Ethereum is 2200, and it's 2 AM Beijing time. The market has returned to 2200, with insufficient upward momentum. Before the bearish trend has completely faded, there is already a divergence upwards. The fast and slow lines of the EMA trend indicator have widened, with EMA15 reaching 2330. If the main force continues to stretch, consider shorting above 2300 and do not chase long positions for now. The MACD shows a decrease in volume and insufficient accumulation, with both DIF and DEA shrinking in volume. The Bollinger Bands still indicate a bearish trend, with the lower support at 1960 and the middle band focusing on 2440. In the short term, you can try a small position in shorts but do not hold on. Take profits of 50 to 100 points for yourself, and maintain a long position for the long term.
For the four-hour candlestick, pay attention to the EMA60 trend line at 2265 for the triangle contraction resistance. The bullish momentum is insufficient, and there is a high probability that after a surge, it will exhibit a long upper shadow. It is recommended to place stop-loss orders. Once the candlestick breaks 2200, the MACD's decrease in volume will end and begin to expand. The DIF and DEA have formed a short-term golden cross, and the contraction of the Bollinger Bands continues. Pay attention to the upper band at 2300 and the lower band at 2100. Based on the current market, after the next surge ends, consider shorting. As for opportunities to go long, it is advisable to wait until the defense of 2000 begins before considering.
Short-term reference: Safety first. Remember that there are no certainties in the market, so always set stop-losses. Safety first, small losses with large gains is the goal.
For the northward trial position, aim for 2100 to 2050, with a defense at 2000 and a stop-loss of 50 points. The target is 2200 to 2250, with a breakout target of 2300.
For the southward trial position, aim for 2300 to 2350, with a defense at 2400 and a stop-loss of 50 points. The target is 2250 to 2200, with a breakout target of 2150.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in the publication of the article, so it is advised for reference only and at your own risk.
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