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Cryptocurrency Academy: December 3, 2024, Ethereum (ETH) latest market analysis reference.
The current price of Ethereum is 3625. It's now 3 AM Beijing time. Let's review: the Ethereum daily candlestick has once again broken the previous high, but has also fallen below the neckline at 3690. The long position was closed at the neckline for profit. I did not chase the short, but entered long at 3560, with a stop loss at 3500. Whether it can hold is uncertain for now. The priority is to get in; if wrong, exit with a small loss; if right, congratulations to everyone.
Looking at the current market, the daily candlestick reached a high of 3765, breaking the previous high once again. The main force has closed long positions for profit, with a low of 3555. We placed an order at 3560; otherwise, we really couldn't get in. We must not have a complacent mindset and do not rule out further liquidation actions. Therefore, it is essential to have a good stop loss. Do not consider profits for now; just stay alive. The EMA15 trend fast line support is at 3450, and the large-scale neckline is at 3300. The MACD has shown a top divergence for a long time and has been moving upward in volume. Although it has come down 200 points, it is still at a high level. The fast line has not broken the upper Bollinger Band at 3790, and the middle band support is at 3350.
On the four-hour candlestick, a double bearish engulfing pattern has appeared, consecutively piercing the EMA30 trend line at 3615. The next level is the EMA60 support at 3524. The bearish trend is indeed strong, but the larger bullish trend has not yet broken. The MACD is decreasing in volume, and the DIF and DEA have moved to the vicinity of the zero axis. Additionally, the candlestick has continuously tested the lower Bollinger Band support at 3570. Our entry point is set at 3560, which is 10 points below the lower band. The stop loss will not be placed too far; if wrong, exit with a small loss. Pay attention to the next key support around 3300. For now, maintain the strategy of buying on dips and being cautious when shorting at high levels.
Short-term reference: Safety first. Remember, the market is never 100%, so always have a good stop loss. Safety first; small losses and big gains are the goal.
Sell from 3700 to 3750, with a defense at 3800, stop loss of 50 points, target 3600 to 3550; if broken, look at 3500.
Buy from 3500 to 3530, with a stop loss of 50 points. The target is 3600 to 3650; if broken, look at 3700.
Currently, manage the defense and stop loss at the entry point of 3560. Safety first. Pay attention to whether the previous high can be broken to decide whether to close positions. The practical details have been updated; please follow the author.
Specific operations should be based on real-time market data. For more news and details, you can consult the author. There is a delay in the article release; suggestions are for reference only, and the risk is borne by the individual.
This article is exclusively contributed by the Cryptocurrency Academy and represents the unique views of the academy. It conducts in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions are not real-time and are for reference only; the risk is borne by the individual. Please indicate the source when reprinting this content, control your positions reasonably, and avoid heavy or full-load operations. The academy also hopes that all investors understand that the market is always right. If you are wrong, summarize where the problem lies. Don't let the profits that should be yours fly away. There is no need to be smarter than the market; when a trend comes, respond accordingly; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success stems from today's choices. Hard work is rewarded by heaven, goodness by earth, sincerity by humanity, trust by business, excellence by profession, and heart by art. Gains and losses often happen unexpectedly. Cultivate the habit of strictly managing stop losses and take profits for every trade. The Cryptocurrency Academy wishes you happy investing!
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