Ethereum did not fall below $3,000. Will it continue to fall?
After the Ethereum ETF started trading, the market did not rise as expected, but instead ushered in a short-term correction, but this will not affect the subsequent trend. Let's not talk about anything else. Just talk about the capital inflow of the Ethereum spot ETF, and you will know that there will be no big drop. The correction is just a sudden increase to induce shorts, because there are too many people who are long. Today, I will use the Qianlong strategy to analyze the short-term market of Ethereum in four hours: 1. This four-hour correction of Ethereum just stopped falling near the support level formed by the bottom oscillation range last time, which shows that the support below is effective.
2. After stopping the decline, it experienced a rebound. When it rebounded, the volume of bulls gradually shrank, and at the same time, it came to the pressure level formed by the BOLL middle track and began to oscillate. Under normal circumstances, the market will trigger a correction when it reaches the BOLL middle track.
3. A cross evening star pattern appeared in the last four hours, but the bears did not increase their volume, which means that although there is pressure above, the pressure is not very large.
4. A "rectangle" has been formed. The rectangle is a continuous pattern, and the long and short positions are shrinking within the rectangular pattern. This is not a precursor to a deep correction. 5. After ETH stopped falling, the short-term trend is currently rising. Under this background, it is oscillating, just accumulating strength, and no signs of strong short positions have been found. Judging from the clues of the above points, the current strength of ETH bulls is stronger than that of bears, and it will continue to rise. I have talked a lot about trend market during this period. From today on, I will write more about short-term.
As before, take ten transactions as a cycle to see what the situation is after a cycle ends.
I mainly do long-term trend spot trading. The long-term layout has been laid out. I only need to track the trend of the market later.
Next, I will continue to polish my short-term trading system. Writing short-term trading is not to lead orders, but just to record the growth of my personal short-term trading system. I hope to bring some trading inspiration to my partners who are destined to meet.
The four-hour market changes very quickly. Short-term trading should be exited when profits are good. Don't let yourself be trapped because of greed. Short-term trading emphasizes capital utilization, so you must be willing to take profits and dare to stop losses, otherwise the meaning of short-term trading will be lost.
