Wishing everyone a happy May Day holiday, remember to balance work and rest! A total of 4 effective trades yesterday, with Ethereum's market once again providing profit opportunities. Next, I will analyze the market trends and operational strategies during the early morning period: (Cherish the current sharing, knowledge is priceless, who knows when it might not be available anymore? Right?)
Key technical points: Focus on the 1 - 4 hour levels, with the price levels of 1791 and 1801 being crucial. If the 1-hour level can stabilize at 1791 after a rebound, the subsequent trend is expected to fluctuate upward; while if the 4-hour level can stabilize at 1801, then a bullish outlook is possible. Conversely, if it cannot stabilize at 1791 within an hour, be wary of a pullback and downward movement.
Long position strategy
- Short buy: Pay special attention to the range of 1720 - 1730, it is recommended to operate with light positions and stop-loss, take profits when you see fit.
- Subsequent short buy: Focus on the range of 1675 - 1685. If 1688 is not broken, you can arrange long positions in advance; or when the entity at 1665 is not broken, you can also enter long positions.
- Subsequent long positions: There are potential buying opportunities near 1620 - 1630, please keep an eye on it.
Short position strategy
- Ultra-short sell: Focus on the ranges of 1680 - 1675 and 1796 - 1800. If the market cannot stabilize, you can attempt a short position with a stop-loss.
- Subsequent short sell: The range of 1815 - 1822 is the resistance level on the 1-hour chart. If the market cannot stabilize here, you can attempt a short sell; if it stabilizes, then abandon that operation. Additionally, the range of 1840 - 1850 is also worth paying attention to. If 1835 cannot stabilize during a rebound, you can preemptively enter a short position.
Daily level reference: Pay attention to the key level of 1711 on the daily chart, with support at 1742. If the daily close does not fall below 1742, the overall trend will be predominantly bullish; however, once it breaks below 1711, be cautious of the risk of intraday pullback and downward movement. The current daily support range is 1740 - 1745, 1710 - 1715; resistance range is 1795 - 1800, 1835 - 1840.
Important reminder: Please strictly follow the strategy. If no suitable trading opportunity arises or if you lack confidence in the market, do not rush to open positions, maintain a wait-and-see approach. If you wish to learn more trading knowledge, feel free to follow the account introduction.$ETH