11.23 Zhang Lihui: Ethereum Market Analysis and Operation Suggestions:
In yesterday's article by Lihui, a light short position was set up in the 3400-3440 range, which has already gained over 100 points for profit-taking. The intraday pullback did not provide the expected space, coupled with the fact that Bitcoin has continuously broken new highs in the evening, Ethereum has again pulled back, falling into a weak position;
It can be seen that the Bollinger Bands in the Ethereum 1-hour chart are downward, but the K-line pullback is still very slow, with the lower band close to the EMA60 support. This can be considered a point for entering long positions, with stops placed in the EMA80 and MA60 range; the MACD continues to expand at the 0 axis, and the fast and slow lines are diverging and approaching the 0 axis position, indicating that the fast line may show signs of a turnaround again;
The Bollinger Bands on the 4-hour chart are once again narrowing, with the upper band moving down. It seems that the 3450 position is difficult to break through, while the lower band continues to rise and coincides with the MA30 support. Thus, the range of fluctuations may not be large, so we can continue to seize range profits;
On the daily level, the upper band is rising, and the Bollinger Bands are about to form an opening state. The intraday defense point can be looked at the EMA7 and the middle band range, which coincides with the 4-hour MA60; previously, Lihui mentioned that the EMA60 has moved up and coincided with the EMA220 and EMA160, while the lower EMA120 and EMA80 follow closely. The medium to long-term outlook continues to see a breakthrough for a rebound;
In summary, Lihui believes that the pullback space for Ethereum is limited. Continue to seize the profit from the oscillation space, and currently consider continuing to go long;
Beijing time November 23, 4:50 AM Editor: It is suggested to enter lightly long in the 3300-3280 range; reserve for re-adding in the 3200-3170 range, with stop loss below 3150; target looks at 3360-3400;
It is recommended that short positions can continue to focus on not breaking the 3400-3440 range for light short entry, with targets at 3330-3270-3210. If it breaks below 3200-3170, it can continue to be held;
There is a delay in article review and push notifications; the market changes rapidly, and specific entry opportunities must be combined with real-time operations. The article's suggested points are for reference only; do not operate with heavy positions, and make sure to set take-profit and stop-loss orders when entering. Take profits when available!
I, Lihui, interpret global economic news and analyze the major trends in the global cryptocurrency market. 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 are not familiar with trading are welcome to comment and leave messages!
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