11.26 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
After waiting for so long, Ethereum has finally taken a dominant low position. From the performance of the market these past few days, when Bitcoin moves slightly, Ethereum reacts very positively, including the main force actively selling Bitcoin and investing in the Ethereum market. This is probably the best scenario, after all, if the second one doesn’t rise, many people will feel disappointed! From last night's performance of Ethereum, the K-line had two attempts to break the high point of July 22, forming a pullback, but the decline was not as unexpected as Bitcoin's; the previous day's low point was not reached, forming a quick rebound. Most people probably felt like lamb being boiled! Yesterday, the short positions arranged by me were successfully added above 3500, and the pullbacks were safely reduced and exited. So, the entry point for adding positions is also particularly important! Of course, learning to cut losses is even more important!
The Bollinger Bands on the 1-hour chart are severely contracted, and the K-line is currently testing the EMA15 position downwards; pay attention to EMA30 as the first support in the short term. From the current K-line shape, the downward movement remains slow, with the fast and slow lines contracting for the second time, which is generally stable; a dead cross indicates that it can’t be escaped. Moreover, the volume above the zero line is noticeably shrinking, and the three lines of KDJ are also turning down again, indicating that there is still space below and it has not completed the move.
On the 4-hour chart, the Bollinger Bands are opening, and after the K-line forms a pullback above 3500, it is currently at the EMA7 and EMA10 positions. The first support below looks at EMA15 and the middle track; if broken, it will look down at the support where EMA30 and MA30 overlap. This is also a second bottoming backup point, and it may form a double needle pattern with last night's low point. Once the fast and slow lines form a dead cross, it will indicate a significant short position. The three lines of KDJ are also forming a downward intersection, and the situation appears to be quite bearish. However, I believe if the short position moves very slowly, the fast and slow lines may again form a divergence and open upwards.
On the daily chart, the Bollinger Bands are opening upwards, and recently the K-line has been rising along the EMA7, elevating the low points. The EMA80 and EMA120 mentioned in previous days are crossing above EMA180 and EMA220; once broken, it will form a complete bullish arrangement, which marks the beginning of spring for Ethereum. That's right, it's just the beginning!
In summary, I believe it is still not advisable to chase short positions; the strategy should mainly focus on low long positions, after all, the second one can be quite intimidating.
At 3:26 AM Beijing time on November 26, the editor suggests entering lightly in the pullback range of 3425-3390, reserving a backup position in the range of 3300-3340 below; stop loss below 3300; target at 3480-3530, breaking above 3540-3560 could see above 3600.
The entry point for a short position also needs to pay attention to around the high point of 3626 on June 20; entering here allows for a pullback space of 100-150 points, which is not something to take lightly.
There is a delay in article review and push notifications; the market changes rapidly. Specific entry opportunities must be combined with actual operations. Real-time notifications are the standard. The suggested points in the article are for reference only; do not operate with heavy positions. Please prepare your take-profit and stop-loss levels when entering, and take profits when opportunities arise!
I interpret global economic news and analyze the major trends in the cryptocurrency market. During my studies in the United States, I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. For those who are unsure how to operate, feel free to comment and leave a message!
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