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1-6 Ethereum Analysis:
On Friday, the analysis of Ethereum mentioned that Ethereum should either pull back to around 3400 to go long or break through 3555 directly to chase. By noon, it reached around 3700. The spot trading strategy previously mentioned to open a position at 3200 only received the head position, and added to the spot directly at 3555.
Although there are profits currently, it is still necessary to respect the next potential resistance. From the perspective of Fibonacci's 0.618, the current resistance is at the price of 3720. In a market with no volume increase, there is still a cautious approach. If rejected at 0.618, it would signal a bearish trend. Even if not shorting, one must pay attention to whether the support at 3555 below will hold.
Returning to the four-hour chart to view Ethereum, Ethereum is currently moving in a channel pattern, and looking at the candlestick chart, 3720 is the previous high position for Ethereum in the four-hour timeframe, which coincidentally corresponds to Fibonacci's 0.618. However, currently, Ethereum is showing a trend of increase without volume, so if one wants to place a left-side order to short, it must be at the price of 3830, which corresponds to the neckline position of the top pattern on the left + the top of the four-hour channel. Here, it must definitely be a left-side order. 3720 is just the idea of being blocked on the right side. #ETH
On Friday, the analysis of Ethereum mentioned that Ethereum should either pull back to around 3400 to go long or break through 3555 directly to chase. By noon, it reached around 3700. The spot trading strategy previously mentioned to open a position at 3200 only received the head position, and added to the spot directly at 3555.
Although there are profits currently, it is still necessary to respect the next potential resistance. From the perspective of Fibonacci's 0.618, the current resistance is at the price of 3720. In a market with no volume increase, there is still a cautious approach. If rejected at 0.618, it would signal a bearish trend. Even if not shorting, one must pay attention to whether the support at 3555 below will hold.
Returning to the four-hour chart to view Ethereum, Ethereum is currently moving in a channel pattern, and looking at the candlestick chart, 3720 is the previous high position for Ethereum in the four-hour timeframe, which coincidentally corresponds to Fibonacci's 0.618. However, currently, Ethereum is showing a trend of increase without volume, so if one wants to place a left-side order to short, it must be at the price of 3830, which corresponds to the neckline position of the top pattern on the left + the top of the four-hour channel. Here, it must definitely be a left-side order. 3720 is just the idea of being blocked on the right side. #ETH
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