ETH: The short-term trend continues to fluctuate, and the end of the triangle pattern changes direction.

In the analysis of ETH on November 28, it was believed that the ETH market was in a shock adjustment stage at the daily level, and it was given long and short opportunities in the shock market. According to the analysis in the previous article, there is still some floating profit for the long positions established, but ETH only rose to a maximum of around US$2,076 yesterday, and the profit stop we set at 2,080 was not triggered.

At present, ETH has returned to the up and down oscillation mode again, but the range of price fluctuations has become narrower and narrower. A green triangle pattern can be drawn based on the price trend.

The 1-hour OBV data began to continue to decline. This is a bearish pattern, indicating that the positions of long funds are not firm and need to be vigilant. After forming a golden cross, the 1-hour MACD indicator currently shows signs of breaking through the 0 axis. If it completely stands on the 0 axis, it is expected to continue to guide the market upward.

It is expected that the ETH price will choose a direction at the end of the triangle, and the breakthrough of the upper and lower green lines will be the key.

operate

For long orders in hand, you can adjust the stop-loss price according to the position of the green line below. If you are not optimistic about the market outlook, you can adjust the take-profit price according to the green line above. Take profit when the price touches the green line above.