December 12-28, A Brief Discussion on Ethereum

The current price of Ethereum is 3341, and it is now 9 AM Beijing time. Congratulations to the cryptocurrency friends who were bullish yesterday at 3300; it seems the clouds have cleared. Let's first review the main line I provided yesterday, which was to enter at 3420 and take half profit at 3330. There's no rush for the remaining position. If the main force returns above 3400, we can make up the sold portion and continue looking south. The target is not 3300, but rather the two key supports at the previous lows of 3240 and 3160.

The daily candlestick reached a high of 3445 and a low of 3305, showing a long upper shadow, which is a typical bullish trap indicator. Before the daily close at 8 AM, if the daily line does not break the EMA60 resistance level of 3370, those who have not entered can take this opportunity to look south, targeting the EMA90 support at 3240. The MACD shows a bottom divergence with both DIF and DEA about to enter below the 0 axis, indicating a bearish trend. The Bollinger Bands are expanding downwards, with the lower band moving to the support point of 3150. The overall trend continues to look bearish.

The four-hour candlestick maintains the southbound strategy. The fast line continuously attempted to break the EMA30 resistance at 3400 but failed and fell back. The MACD continues to shrink, with DIF and DEA consolidating. The support on the lower Bollinger Band is at 3280. Currently, the fast line is in a downward channel consolidation. We can pay attention to the mid-band resistance at 3410; if it does not break, we can continue to go short. If it breaks, watch the upper band resistance at 3540. Be prepared for both scenarios and pay attention to key resistance levels. Those who have entered can continue holding for the previous lows, while those who have not entered should wait for a pullback to find opportunities or consider entering if it further tests below 3200.

Short-term reference: Safety first. Remember, the market is never 100%, so always set a stop-loss. Safety first; small losses and big gains are the goal.

Northbound entry points are between 3240 and 3200, with a stop-loss at 3150 to 3100, a stop-loss of 50 points, and a target of 3300 to 3350, with a break looking at 3400 to 3450.

Southbound entry points are between 3380 and 3420, with a stop-loss at 3470 to 3520, a stop-loss of 50 points, and a target of 3330 to 3280, with a break looking at 3230.

Specific operations should be based on real-time market data. For more information, you can consult the author. The publication of the article is delayed, so it is recommended for reference only, and the risk is borne by the reader.

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