10.23 Zhang Lihui: Ethereum market analysis and operational suggestions:
Yesterday, the Ethereum bearish target of 2615 was reached as expected. Currently, the middle band and EMA15 support on the daily chart are temporarily effective, but the Bollinger Bands continue to narrow, with the upper band bending down close to the EMA120, and the high points are continuously being suppressed, with a volume formation above the zero axis, and the fast and slow lines are converging.
The short-term bullish volume is very weak, and entering long positions is not recommended, as the middle band on the 4-hour chart is quickly trending down, including the upper band. If pursuing long positions, the space may not be very large. There is continued volume below the zero axis, with a death cross opening continuing, and the DIF is about to approach the zero axis position. Continue to pay attention to whether it can enter below the zero axis; if the price can rise above the middle band and EMA30, opening a short position would be optimal.
The 1-hour Bollinger Bands channel continues to maintain a downward trend, but the current space may not be very large. EMA30 and MA30 are intersecting and are under EMA120 line; if it moves quickly, it may again form overlapping pressure with the upper band; besides BlackRock's cost-agnostic buying, other institutional players and retail investors are selling, and the trend is quite evident. Pursuing long positions at high levels would just be filling the pit.
Based on the above, Lihui believes that the bears are currently dominating the market, and there is a possibility of a pullback. Focus on opening shorts after the high point resistance breaks; long positions should be consulted and arranged according to real-time changes.
Lihui suggests opening a short position in the range of 2650-2675, with a stop loss at 2730 and a target of 2615-2570; if it breaks below the range of 2565-2545, you can continue to hold!
There is a delay in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and real-time notifications are the standard. The suggested points in the article are for reference only; do not operate with heavy positions. When entering, please ensure to set take-profit and stop-loss, and take profits when they appear!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. Friends who do not know how to operate are welcome to comment and leave messages!
Scan below to follow the author and get more real-time operational information!
This article is exclusively published by (WeChat Official Account: Zhang Lihui), for reference only, and the risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. Just as 'the road ahead is long and has no ending; yet high and low I will search with my will unbending,' I hope we keep pace with the times, absorb wisdom, travel thousands of miles, endure storms, and gain insights into life.
May you, under Lihui's guidance, leverage strengths and avoid weaknesses, create value, remember the market's baptism, and stay true to your original intention. In the wave of digital currency, may we hold our beliefs tightly, forge ahead bravely, and together compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey filled with challenges and opportunities!
Warm reminder: The above content is solely created by the author on the WeChat Official Account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully, and thank you for reading.
