11.24 How can Ethereum seize short-term opportunities in a turbulent market? Are the pullbacks in a bullish trend just traps?

Current price of Ethereum is 3410, with short positions held between 3450 to 3500. Ethereum will not rise as everyone wishes; there has already been one significant rally this year, and it is expected that there won't be such a large rally again this year. Therefore, it is important to be rational, follow the trend, and avoid chasing highs and panic selling. The first support level is at 3400, which is unlikely to hold, and we will continue to look at the strength of support from 3350 to 3300.

We will then decide whether to take profits on short positions.

Currently, the daily candlestick chart continues to show a double top pattern, with a maximum reaching 3500 and a minimum before publication still at 3315. The range is quite large, indicating a one-sided upward trend. The EMA trend indicator is still expanding upwards, and we have entered the final sprint phase. Pay attention to whether the EMA15 fast line breaks below 3200 after the alternation ends. The MACD shows a significant top divergence and increased positions, with the main force starting to increase its holdings in Ethereum. After the Bollinger Bands open up, the upper resistance comes to 3610, with the middle support still at 3070. The KDJ upward expansion has not yet exerted force, so in terms of strategy, short positions should not be held too long. After a pullback breaks below 3400, we can consider entering long positions.

The four-hour candlestick chart shows a rise followed by a pullback. Pay attention to the EMA15 support point at 3335. The MACD top divergence continues to rise. The DIF and DEA trends remain unchanged at high levels, and the Bollinger Bands are still stretching upwards. The upper line has broken 3525, while we focus on 3290. In terms of strategy, we have found the entry and defense points for long positions; the rest is up to time and patience. Only by enduring loneliness can one maintain prosperity. The larger trend has opened up a bullish position, so we should primarily focus on long positions after waiting for a pullback, with shorts as a secondary strategy, especially when shorting, it is essential to choose a position with a small stop-loss point. If wrong, exit with a small loss; if right, just hold.

Short-term reference:

Buy between 3330 to 3350, with a defense at 3270, stop-loss at 50 points, and target at 3400 to 3450, with a break at 3500 to 3550.

Sell between 3550 to 3600, with a defense at 3650, stop-loss at 50 points, and target at 3500 to 3450, with a break at 3400.

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