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Crypto Old Yang: Ethereum market analysis and reference for December 3, 2024.
Ethereum's market is currently experiencing severe fluctuations. The daily K-line has broken through the previous high to 3765, and the main bullish positions were liquidated, causing the price to plummet, reaching a low of 3555. Given the market uncertainty, setting stop-loss levels is crucial, and risk control should be prioritized. The EMA12 trend fast line support level is 3523. The MACD shows long-term top divergence but still exhibits an upward trend, with DIF and DEA hovering at high levels. Although it has dropped two hundred points, it remains high overall, and the upper Bollinger Band at 3828 exerts significant pressure, while the middle track at 3364 provides potential support. The subsequent trend needs further observation.
Ethereum's four-hour K-line peaked at 3654, which is a strong bearish signal. It has continuously broken through the EMA26 trend line at 3633, and the next key defense line is the EMA60 support level at 3524, clearly showing a bearish trend. However, from a larger perspective, the bullish pattern has not yet been broken. In terms of technical indicators, the MACD shows a downward trend with decreasing volume, and the DIF and DEA are gradually approaching the 0 axis. The K-line continues to test the lower Bollinger Band support at 3590. To control risk, the stop-loss level is set close; if the trend does not meet expectations, exit with a small loss in a timely manner. Focus is on the next key support near the 3250 area. The current strategy is to hold temporarily, with an overall approach to buy on dips and exercise extreme caution when shorting at high levels to prevent misjudging market trends and incurring losses.
Key points of short-term trading strategy: Market conditions are unpredictable, and there is no absolute certainty. Therefore, it is essential to set stop-loss levels to prioritize the safety of funds. The core pursuit and goal of short-term trading is to exchange a small stop-loss cost for a significant profit opportunity.
Short-term strategy:
Short position from 3650 to 3700, adding to the position at 3750, stop-loss at 50 points, target looking at 3600 to 3550.
Long position from 3450 to 3500, adding to the position at 3350, stop-loss at 50 points, target looking at 3600 to 3650.
Disclaimer: The above analysis only represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk. Investment carries risks, and caution is advised when entering the market.
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