Crypto Scholar: A new round of market movement for Ethereum is coming on December 30. How to identify signals of bullish and bearish reversals!
Current price of Ethereum is 3355. Yesterday, those who entered at 3300 exited around 3400. From the current market view, the profit-taking point is indeed the best exit point. There are many traders who say it's a pity not to short above 3400, and some say I am being too conservative. I missed such a good opportunity to short. My principle is simple: I would rather miss out than make a wrong move. The pullback hasn't even reached the most basic trend resistance, so there are no conditions for shorting; only a sideways market is evident.
The daily K-line has been oscillating around the EMA60 trendline at 3370 for four days, temporarily breaking below EMA60. We will consider moving north only after it further dips to the EMA90 support at 3245. For now, we continue to wait. If the main force chooses to continue sideways oscillation, we can take this opportunity to rest and enjoy the New Year. The EMA trend indicators are still contracting, including MACD, which is also contracting. The Bollinger Bands are moving sideways within a downward channel, with the upper band not touching the midline at 3595 and the lower band not touching the lower band at 3110. This kind of trend is quite intriguing.
The four-hour K-line shows a more obvious contraction, forming a typical symmetrical triangle trend. It is a period of observation until it breaks above 3430 or below 3300. The EMA trend indicators are contracting, MACD is shrinking, and the DIF and DEA are oscillating below the zero line. The Bollinger Bands are contracting, narrowing the distance between bulls and bears, with the upper band at 3420 and the lower band support at 3300. The overall trend is basically as expected, and we will wait and see how the trend unfolds before making any decisions.
Short-term reference: Safety first. Remember that market conditions are never 100% certain, so always set stop-loss orders. Safety is the top priority; small losses for big gains is the goal.
For northward positions, entry points are 3240 to 3200, with a stop-loss at 3150 to 3100, a stop-loss of 50 points, and targets set at 3300 to 3350, with breakout targets at 3400 to 3450.
For southward positions, entry points are 3450 to 3500, with a stop-loss at 3550, a stop-loss of 50 points, and targets set at 3400 to 3350, with breakout targets at 3300.
Specific operations should be based on real-time market data. For more information, feel free to consult the author. There may be delays in the article's publication, so it is recommended for reference only, and risks are to be borne by the reader.
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