Crypto Circle Scholar: 6.23 Ethereum's Bottom Bounce Demand is Strong, But After the Rebound Will It Continue to Explore the Bottom? Latest Market Analysis and Reference Suggestions
Current price of Ethereum is 2190, it is now 1:30 AM Beijing time. After missing the last wave south at 2560, it is indeed difficult to have the courage to continue south near 2425. Here, only a few friends still have a little bottom position to go south, and almost all the rest have taken profits. Most of the fans consulting today are trapped after going south near 2450, and many friends have locked in positions at last, leaving very few chips remaining. If you can remember that the essence of trading is survival, you won’t end up losing all your chips. I have used this phrase to struggle in the crypto circle for over a decade, and I hope you can always be there too.
Before the release of the daily K-line, the highest was 2312 and the lowest was 2155. After breaking below 2400 yesterday morning, three crows appeared. The EMA trend indicator is alternately expanding downwards, creating an accelerated downward channel with the volume indicator. The MACD is very clear, with DIF and DEA about to cut below the 0 axis. Currently, there is a two-level weathering sideways around 2200, and the lower Bollinger band has lost 2250. In the short term, it is expected to pull back and stretch to impact this pressure level. If it doesn’t break, it can consider continuing south; if it breaks, then we need to think about whether the market is changing.
The four-hour K-line has entered a downward channel. The next support point is to pay attention to the downward trend support point at 2050. Although it seems far away, in terms of the market in the past few days, the distance is not very far. However, the market has entered an extremely oversold sequence, indicating a demand for a pullback. According to the idea of a sharp decline, we should wait for a stop before pulling back, and after the pullback, wait for the formation to confirm to continue short. The Bollinger band is expanding to form a bearish trend, with the lower support already reached 2175 and continuing to decline. The middle track pressure level has already fallen below 2400, and the trend's fast line has also fallen below 2350. The accelerated downward mode has not yet ended, and in the short term after a pullback, it can consider continuing south.
Short-term Reference:
Short down trial point 2250 to 2300, defense 2330, stop loss 30 points, target looking at 2200 to 2150, if broken look at 2100 to 2060.
Short up trial point 2120 to 2070, defense 2030, stop loss 30 points, target looking at 2150 to 2200, if broken look at 2230 to 2260.
Suggestions are for reference only, risk is self-borne. $ETH
