August 29th: Ethereum will fluctuate and adjust in the short term, and turn bearish again below 2700
ETH/Daily Chart
At the daily level of Ethereum, the price bottomed out and rebounded on Tuesday, and there is a need for a correction. Yesterday's K-line closed positive, but in the medium term, the previous week's resistance was above 2800, and the continuous negative weakness fell unilaterally. It went into the second bottoming out, and it was difficult to extinguish the downward trend at once. Therefore, the subsequent operation of the weekly line should be mainly above 2100, and there will not be too much space even if it is pierced, and it is difficult to produce a big negative.
ETH/4H chart
Ethereum 4h level, as shown above, after the continuous negative K-line, it ushered in the first warming up. The short-term trend remains short. It seems to have entered a weak correction in the past two days. The trend adjustment of the currency circle is quite exaggerated. Therefore, the short-term is likely to be near the short-term moving average for interval adjustment. 2700 resistance, support 2400, touching 2700 is also a bearish idea.
Strategy 1: It is recommended to lightly position/short at 2670~2640, stop loss 2710, and the target is around 2500~2400
The above is a personal suggestion for reference only. Investment is risky and trading should be cautious
