This #ETH one-hour K-line chart is really frustrating to look at
Opened directly at 2687.53 USD, closed at 2668.20 USD without even touching the MA7 line, the bulls are obviously weak. After rising to 2694.12 USD, it lost momentum and dropped to 2664.22 USD without many people cutting losses, this up and down shadow line is really bothersome.
The trading volume is only 16991 lots, even less than the five-day average volume of 30,000 lots, external funds are simply not entering the market, and retail investors are playing dead. The MA7 line at 2675.88 USD is pressing down hard, the MA30 line at 2601.38 USD is supporting it, but the EMA7 and EMA30 are almost sticking together, this trend change signal is like a ticking time bomb.
The MACD red bar of 6.5 is peeking out, but the difference between DIF and DEA is only 3.25, is this all the energy the bulls have? The KDJ indicator is even more absurd, the K-line is at 64.39, the D-line at 74.37, and the J-line has dropped directly to 44.41, this indicator is erratic, clearly trying to trap people.
To put it bluntly, it’s currently a dilemma of going up or down, without volume support it’s just playing tricks, those with heavy positions should quickly reduce, and those wanting to catch a bottom should wait for a volume breakout to decide, don’t fight against the trend, staying alive is the most important.
This market changes every day, you have to seize the right moment to act, if you are still too confused, you can click on my profile picture to follow me, I usually share some cutting-edge information and practical strategies to seize big opportunities together.
