Crypto Circle Scholar: On July 28, Ethereum is 'Emotion-Driven', Waiting for 'Calm'! Latest Market Analysis and Reference Suggestions
Ethereum current price 3850, after getting off at 3750 yesterday, turned around and tried a short position, resulted in breaking the key resistance level of 2787 and stopping out, now what needs to be considered is not whether to chase long, but to preserve the chips in hand and survive, at least the last wave north captured 230 points, although the southbound move was swept for 50 points, it can be considered a small loss with big gains. As for the next steps, everyone is asking what to do; at this point, holding back from trading and watching from the sidelines has already surpassed 90% of crypto friends.
Before publishing, the daily candlestick had a high of 3869 and a low of 3728. The EMA15 trend fast line has reached the golden ratio support at 0.786, and it is expected to continue stretching. The next focus is on the 3600 support point, and the bullish trend is still stretching. The KDJ forms a dead cross at a high position, and the MACD top divergence continues, with volume decreasing, DIF and DEA spreading at a high position. The upper pressure level of the Bollinger Bands has reached 4140, with the middle line still at 3365. The market has already broken the previous high, and can rest before a hanging top line appears.
The four-hour candlestick has just broken the previous high, and the EMA trend indicator is also stretching. The bulls can return and adjust support around 3700 to go north, but this is not being considered at the moment. The current market shows that the bullish trend is correct, but the volume has not risen. Stretching without volume is an abnormal phenomenon. The current market is clearly driven by emotions, and emotions dominate. At this time, it is advised to hold back from trading and wait for obvious resistance levels to appear before considering entry.
Short-term reference: Safety first. Remember that the market is never 100%, so always have a good stop loss. Safety first, with the goal of small losses and large gains.
Southbound trial entry point 3950 to 4000, defend at 4050, stop loss at 50 points, target looking at 3900 to 3850, break point looking at 3800 to 3750.
Northbound trial entry point 3750 to 3700, defend at 3650, stop loss at 50 points, target looking at 3800 to 3850, break point looking at 3900 to 3950.
Specific operations should be based on real-time market data. For more information, please consult the author. The article publication has a delay, suggestions are for reference only, risk is borne by oneself.
