Ethereum box fluctuation continues, long positions can be tested effectively! Can the short-term rebound break the downward trend?
The current price of Ethereum is 1850, and it is now 4 AM Beijing time. The Ethereum box has not broken, and long positions can be tested around 1820. Make sure to defend and set stop-losses, just wait. We plan our trades before the market opens, and during the market, we only need to trade according to our plan. The rest is left to time. We are doing the right thing; do not doubt your trading system, just execute strictly according to the system.
The daily candlestick highest is 1922, and the lowest is 1820, continuing to move within the box. It is currently near the previous low support level. The EMA trend indicator's fast and slow lines are still stretching apart. The EMA15 trend resistance level has reached 2125, and the MACD volume has not increased but has instead decreased while moving upward, indicating that bullish momentum still exists. The DIF and DEA are expanding downward. While the Bollinger Bands continue to show a downward channel, the candlestick is consolidating above the lower band. Similar to Bitcoin, it is necessary to test long positions above 1800, ensuring to set stop-losses; if wrong, wait for the next testing point.
The four-hour candlestick box is the most obvious. Currently, it is fluctuating sideways around the EMA15 trend fast line, with a high probability of pulling back to impact the EMA30 trend resistance level at 1950. This position can be referenced as a take-profit level for long positions. The MACD continues to increase in volume, and the DIF and DEA are expanding along the zero-axis without opening up. The Bollinger Bands are showing extreme contraction, and the market could reverse at any moment. A decline in the market has a high probability of being accumulation. The lower support at 1830 is effective, and the upper resistance at 1950 is effective. The idea remains a box market, and one can capture short-term space of 50 to 100 points.
Short-term reference: Safety first! Remember that the market is never 100% certain, so always set stop-losses. Safety first, small losses with large profits is the goal.
For the upward testing point, 1800 to 1830, defend at 1770, set a stop-loss of 50 points, target 1900 to 1950, and if broken, look at 2000.
For the downward testing point, 1920 to 1950, defend at 1980, set a stop-loss of 50 points, target 1850 to 1800, and if broken, look at 1750.
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Suggestions are for reference only; risks are to be borne by oneself. $ETH
