First, look at the overall situation, determine the bull and bear, and divide the stage. Try to use the weekly level to analyze and track. If the weekly trend is not very obvious, then we need to use the monthly line;
This is why we do trend spot, so we don’t need to watch the market all the time and operate frequently.
The large cycle will restrict the trend of the small cycle.
Second, look at the pattern and judge the short-term direction, using the daily line;
The Ethereum daily line belongs to the oscillating trend, which can also be understood as the falling trend in the oscillating trend.
After a wave of sufficient rising market, the price of Ethereum came to the position of 3973 US dollars, encountering the pressure range formed by the dense trading area above.
The first wave of large-scale rise did not break through effectively, triggering a callback. The second wave of inertial rise, although the price broke a little bit of the previous high, the volume was shrinking and the positive line with a long upper shadow was closed.
It shows that the bullish force is weakening, indicating that the pressure from above is heavy, and then the market falls. At present, it is a falling market in the entire oscillating range.
During the decline, the short volume is also shrinking, and the entity of the K line is also shrinking, indicating that the short force is not very strong.
In the whole range of fluctuations, the long and short forces are relatively balanced, so the trend in the next three to five days will continue to fluctuate.
As for the subsequent trend, we need to track, analyze and judge through more K-lines in the whole range of fluctuations.
One thing we need to pay attention to here is that in the bull market, we must not ignore the increase in the background trend.
In the process of bull market rise, the long indicators will be strengthened and the short indicators will be weakened a lot.
As long as the trend does not reverse, the direction of subsequent rise will not be easily changed.
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