Auntie, I have taken out 3 waves of callbacks, how should the multi-army respond?
Price trend analysis
K-line pattern:
Recently, the price has shown multiple upper shadows around 4000, indicating strong selling pressure.
The recent K-lines are mainly bearish, indicating a bearish market sentiment.
Technical indicators:
MACD: In the 4-hour period, both DIF and DEA are moving downwards, and the MACD histogram is in the negative area, indicating downward pressure in the short term. The daily level also shows a death cross signal, further confirming the weak trend.
RSI: The 4-hour RSI is close to 40, not in the oversold area, but shows some weakness. The daily RSI is slightly above 50, still has room for correction.
EMA: The current price is below EMA7 and is gradually approaching EMA30. If it breaks down, it may test the support of EMA120. Overall, the short-term moving average system shows a bearish arrangement.
Trading volume:
From December 16 to December 17, the trading volume significantly increased, accompanied by volatile price movements, indicating increased capital activity.
Subsequently, the trading volume shrank, indicating a heightened wait-and-see sentiment in the market, lacking clear directional guidance.#ETH🔥🔥🔥🔥 #BTC☀