Cryptocurrency Scholar: Opportunity for Ethereum to rebound again after a short-term correction on November 11!
It is now 3:20 PM Beijing time, with Ethereum currently priced at 3142. Yesterday's daily K-line broke the previous high and reached 3252. I have been closely monitoring the market's movements and adjusting positions, so I am currently observing without entering the market. One thing to note is that no matter how Ethereum moves, it will ultimately return to the 3000 mark, especially in this bull market. It will eventually come back to 3000; it's just a matter of time.
After today's opening, Ethereum remains at a relatively high position. The EMA trend has just started to cross upwards, with EMA15 currently at the 2800 mark, continuing to stretch. For support, we will temporarily focus on the strength of the trend line's retest support point at 3050. The MACD is increasing in volume, and the daily K-line has broken through the upper Bollinger Band at 3158 for several days but has finally returned to the Bollinger Band channel. The KDJ is facing resistance at the upper pressure level and has begun to contract.
The four-hour K-line shows a correction, having retraced to the EMA15 trend support point at 3100. We will monitor the next medium-term EMA30 support at 2975. The MACD has a serious top divergence, with DIF and DEA forming a dead cross at a high level, shrinking downwards. The middle track of the Bollinger Band support is at 3065, and the KDJ is continuously expanding downwards, with a divergence trend appearing downward. We should focus on the strength of the support points and prepare for both scenarios. If the support is not broken, we can lay out short positions, but if it breaks, we will follow the trend for short positions. Currently, the major trend remains strongly bullish, and the short-term pullback has not reached support yet.
Short-term reference: Safety first. Remember that markets are never 100% certain, so always set stop losses. Safety first; small losses and big gains are the goal.
For the upper range, from 3200 to 3250, short positions are advised with a stop loss of 30 points, targeting 3150 to 3100, with a break position at 3050.
For the lower range, from 3030 to 3060, long positions are advised, with a defensive stop at 3000 to add to long positions, a stop loss of 30 points, targeting 3120 to 3160, with a break position at 3200 to 3250.
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