Crypto Circle Academician: Warning of double top formed by Ethereum daily K-line on 11.23! Adjustment after breakout failure!
Current price of Ethereum is 3280, it is now 3 AM Beijing time, before the publication, Ethereum reached a high of 3430 and a low of 3255, both bulls and bears have not entered the hunting zone, currently still observing and watching, the daily K-line shows a double top situation, whether it can completely take shape still needs time to see how the market develops. The original idea yesterday was to enter directly if it broke 3430, but the market did not give opportunities to short, and with insufficient depth of the pullback, at this time doing nothing is also a choice,
Yesterday's daily K-line began to stretch after EMA15 battle strength, which means it broke through 3400 from 3100, MACD top divergence continues, Bollinger Bands are expanding, the upper pressure level to pay attention to is 3595, the middle track support to focus on is 3020, the trend is still bullish, but currently, the larger market has created a U-shaped transitional market
On the four-hour K-line, the ascending triangle broke, ultimately being blocked at the key level of horizontal pressure 3430, failing the breakout and retreating to the EMA15 support point of 3255, MACD top divergence continues, the short-term indicators express more simply, just need to have a pullback, but the intensity of the pullback is uncertain, whether it is thousands of points or tens of thousands of points is hard to say, KDJ downward dead cross is forming, overall there is a pullback trend, so wait for effective support after the pullback to continue buying
Short-term reference: Safety first, remember that the market is never 100%, so always set a stop-loss, safety first, small losses and big profits are the goal
Buy between 3200 to 3250, with stop-loss at 3150, stop-loss 50 points, target looking at 3300 to 3350, if broken, look at 3450
Sell between 3450 to 3500, with stop-loss at 3550, stop-loss 50 points, target looking at 3400 to 3350, if broken, look at 3300
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