ETH
The Ethereum market once again validates Li Hui's recent thoughts. After the previous day's short position gained over a hundred points, yesterday's low long entry point, although not reached, still rose as Li Hui expected; it can be seen that in the 1-hour chart, after the candlestick pierced the EMA220 in the early morning, it formed a pullback again. The first support below is considered at the intersection of EMA120 and EMA30, with the defensive position set at the lower EMA80 and EMA60 dual lines. Top pressure can be seen at the EMA300 position seeking a breakthrough; in MACD, there is again an increase in volume below the 0 axis, and the fast and slow lines are forming a dead cross, indicating there is still a need for a pullback. Since a pullback space can be given, this presents a low long opportunity!
In the 4-hour chart, the Bollinger Bands channel is trending upwards, and the bulls are gradually emerging without us noticing. The candlestick is also indicating that a pullback will form at EMA220. Support below is seen at EMA30 and the middle band position, while it seems the 3400 support level is also quite strong. Top pressure continues to focus on breaking through the EMA120, which is the 3600 level; in MACD, volume is starting to decrease above the 0 axis, but when combined with the hourly chart, if the daily pullback moves slowly, then this fast and slow line contraction will be weak. If it drags into the evening, a new round of rising will occur! Of course, all of this is Li Hui's viewpoint; how the specific market moves will be verified by time. What we need to do is take action at key positions and continuously give ourselves opportunities for small-scale testing! Maintain the concept of small losses and large profits in trading!
