Crypto Circle Academician: On April 20, Ethereum's short-term indicators are overbought, and the main force is secretly maneuvering! Remember these 3 crucial support levels! Latest market analysis reference
Current price of Ethereum is 1620, it is now 2 AM Beijing time. Previously over 1550, I reminded everyone to run if 1610 is broken, now it's time to run. Just before this article was published, Ethereum suddenly surged a bit, peaking at only 1630, and then started to pull back. A slow rising market is usually accompanied by a quick drop, but it's best not to open positions casually if we haven't reached the predetermined levels. Wait for opportunities, wait for signals, and if we haven't reached the target points, just stay out and observe. Remember, the fundamental principle of trading is survival; focus on staying alive before considering profits.
Daily K-line peaked at 1632 and bottomed at 1584, just touching the EMA15 trend quick line pressure level before dropping, indicating that the pressure level is valid, and the bulls are facing strong resistance. MAD has been continuously increasing positions for a long time, while K-line divergence has not been able to rise. The Bollinger Bands show strong resistance, so we can pay attention to 1655 as a short position testing point. The larger trend is still bearish, so we should focus on the larger picture and wait to enter when we reach the key pressure level.
The four-hour K-line shows a long upper shadow, suggesting that the main force may be stretching to unload. Although the stretching intensity is not very high, the main force usually operates on the principle of getting whatever they can. It’s a habit to get used to. MACD has been continuously increasing positions, and DIF and DEA have entered a two-level differentiation, beginning to reach a key point. So, we patiently wait for the main force to stretch here before entering. The upper Bollinger Band at 1609 has been lost, and K-line won't stay away from the Bollinger channel for too long; it will eventually return to the channel. Short-term indicators have also reached overbought levels; we need to wait for the high-level short positions to arrive.
Short-term reference: Safety first. Remember, the market is never 100% certain, so always set good stop-losses. Safety is the priority; small losses for big gains are the goal.
Northern testing point is from 1500 to 1450, defense at 1420, stop loss at 30 points, target looking at 1550 to 1580, breaking point looking at 1620 to 1670.
Southern testing point is from 1670 to 1700, defense at 1730, stop loss at 30 points, target looking at 1620 to 1580, breaking point looking at 1550 to 1530.
Specific operations depend on real-time market data. For more detailed information, you can consult the author. There may be delays in article publication; it is suggested for reference only, risk is self-borne $ETH