Crypto Circle Scholar: The short trend for Ethereum is strong at 8.2, with downward space opened! Latest market analysis and reference suggestions for resolving long positions
Current price of Ethereum is 3555. It seems my choice to short at a high position has been validated. The opportunity to go south at 3890 was captured again at yesterday's pullback high of 3800, and today it has directly gone south from 3700, breaking below 3600. The next step is the trend exchange point at the golden ratio 0.786 supporting 3525. If it cannot hold, continue with the big short; if it holds, take profits on the way down.
Before the release, the daily high was 3722, and the low was 3535, breaking below the EMA15 trend indicator at 3615. Next, pay attention to the support lines at 3525 and EMA30 at 3370. The MACD is showing a decrease in volume with increased bearish momentum at a high level. The DIF and DEA are forming a dead cross downwards at a high level. The upper pressure level of the Bollinger Bands has moved down and broken below 4100, and the middle line at 3585 has been lost. The fast line has entered a bearish trend, and watch the lower line of the Bollinger Bands at 3065.
The four-hour K-line has come to a key support at the EMA120 trend line coinciding with the 0.786 division line at 3525, indicating that this position has strong support. Now we can see if it can hold. The MACD has continuously shrunk in volume while increasing; the Bollinger Bands are also expanding downwards. The K-line is continuously spreading down around the lower line of the Bollinger Bands at 3585. The mindset should be primarily bearish. Friends who want to go long can consider trying a position near 3525, with a stop loss if it breaks below 3500; do not cling to the battle. Friends who already hold short positions can also pay attention to this position to decide whether to stay or leave.
Short-term reference: Safety first. Remember, the market does not have a 100% guarantee, so always set stop losses. Safety first, small losses for big gains are the goal.
Long position trial point 3400 to 3370, with defense at 3340, stop loss at 50 points, target looking at 3450 to 3500, with a break looking at 3550 to 3600.
Short position trial point 3650 to 3700, with defense at 3730, stop loss at 30 points, target looking at 3600 to 3550, with a break looking at 3500 to 3450.
Specific operations should be based on real-time data from the market. For more detailed information, you can consult the author. The publication of the article has a delay; suggestions are for reference only, and risks are borne by the reader.