Crypto Circle Liying: The bullish trend of Ethereum on December 4th is still present, while bearish forces are rising! The key is where? Latest market analysis
Article published on December 4, 2024 ---- 02:10
The current price of Ethereum is 3575, the market is reversing again to pick up, have you boarded? Yesterday Liying provided the entry point at 3500, taking profit at 3600, another precise hit, it can be said to have entered at the intraday low and exited at the high. There’s no rush; this week is a non-farm week with relatively large market fluctuations. Similarly, the probability of the main force reversing to pick up is higher, so be patient and wait for a pullback before entering. Currently, this position carries risks for both long and short.
Liying still analyzes from the price trend perspective. The current K-line pattern remains in high-level oscillation, with multiple long upper shadows indicating heavy selling pressure above, which is a normal phenomenon. In the daily K-line chart, the 2nd and 3rd recorded two consecutive bearish candles, indicating a short-term market sentiment leaning towards bearish. The larger trend remains bullish, so we will wait for further bottoming before continuing to enter long. The MACD technical indicator on the 4-hour cycle shows the fast and slow lines crossing downwards and moving away from the zero axis, indicating short-term pullback pressure.
The Relative Strength Index (RSI) has retreated from the overbought zone and is currently in a neutral area, but caution is still needed for the possibility of further declines. The trend indicator EMA shows that the current price has broken below EMA7 and EMA30, approaching EMA120. If it continues to decline, EMA120 will become an important support. Coupled with increasing trading volume alongside falling prices, this indicates strengthening selling pressure. The market has a high probability of further breaking previous lows to find strong support, with the larger trend being bullish and the short-term trend being bearish. We will wait for opportunities with a strategy layout focused on low longs and supplemented by shorts, while managing risk well.
Today's latest reference points
Long entry at 3500, add at 3450, stop at 3400, target 3650
Short entry at 3700, add at 3750, stop at 3800, target 3550
The above analysis by Liying is based on market data and trend analysis from the order book, and does not constitute investment advice. For family members' reference. Over the course of ten years, Liying has continuously explored and experienced hundreds of various digital assets. In this process, Liying has experienced the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Liying feels a responsibility to share her insights and experiences, hoping to help others with dreams find their place in this unpredictable market and embark on their own journey to success.
The content of the article is real-time and for reference only, risks are undertaken by oneself.
