Crypto Circle Scholar: Ethereum enters the 'no man's land' on June 11, where is the next target price? Latest market analysis
The current price of Ethereum is 2740, it is now 1:30 AM Beijing time. Yesterday, after Ethereum broke 2750, many traders chose to stop loss and exit the market, and until now, before this article was published, many crypto friends privately messaged that they were swept out of their short positions between 2620 and 2650. Some traders chose to chase up after breaking 2788, but were eventually swept out. I have given my advice, but this is human nature; the market is always full of people chasing highs and cutting losses, especially after market sentiment is driven up. However, I still hope my fans can stay with me in the crypto circle and understand the essence of trading, which is survival first and profit second.
The daily candlestick has already broken the 0.5 resistance level of the Fibonacci retracement. The EMA trend indicator continues the upward alternating expansion trend. The MACD is continuously reducing volume and moving upward. After the K-line entity breaks the split line, the DIF and DEA are very likely to form a golden cross and continue the supplementary rising trend. The extreme horizontal movement of the Bollinger Bands has ended. The K-line broke the upper Bollinger Band at 2735. It is expected to leverage upward around the upper band. As usual, at this time, the main force's amplitude has a high probability of exceeding 200 points, so if entering the market, the stop loss space is quite large, which is not cost-effective in terms of profit.
The current position of the four-hour K-line has not formed a neckline yet, and the intention is already very clear: it does not give retail investors the opportunity to enter the market, either chasing high or waiting for a pullback to harvest. At this time, what needs to be done is to wait for a clear pattern to appear after the pullback before moving upward, or look for a short position when the rapid rise ends and a bearish pattern appears. The EMA trend shows a clear bullish intention, and the MACD is currently consolidating around 2740. After the K-line broke the upper Bollinger Band at 2765, it is stretching upward back and forth around the upper band. Aggressive traders can chase the upside, while conservative traders are advised to hold onto their chips and survive before considering whether to enter the market when the pattern appears.
Short-term reference:
Southern trial entry point 2820 to 2850 long, defend 2875, stop loss 30 points, target look at 2780 to 2750, break point look at 2730 to 2700.
Northern trial entry point 2670 to 2650 short, defend 2620 short, stop loss 30 points, target look at 2700 to 2750, break point look at 2800 to 2830.
Suggestions are for reference only, risk is self-borne $ETH