On November 27, the Ethereum bulls have not finished liquidating, beware of risks
Ethereum is now at 3273, it’s already 3:30 AM Beijing time. After the big coin hit the stop loss yesterday, I basically didn’t dare to move my positions; we are mainly observing Ethereum as the bears are too aggressive, and it looks like it is about to surge past three thousand again. The market fluctuates between rising and falling, so let's protect the principal first; surviving is the most important. In sector rotation, Ethereum has shown a triple top bearish signal, and it’s safest to exit the long position made at 3300 at break-even.
Looking at the daily K-line, the highest was 3465, and the lowest was 3255, trending in one direction. The first support below looks at the EMA15 trend line at 3215. The overall trend is still bullish, but the MACD volume has decreased, and the DIF and DEA are shrinking at a high level; if it breaks 3200, it will have a death cross, and the three thousand barrier will be in danger. The upper pressure of the Bollinger Bands is at 3487, the middle support is at 3195, and the lower support is at 2900. Before the K-line rises eight points, if it breaks the previous low, it will have a death cross.
The four-hour K-line is above the rising trend line support and EMA60 trading point at 3250; we can look at both long and short at this point. The MACD volume is decreasing, the top divergence is close to the 0 line, and the lower support of the Bollinger Bands is at 3255. The idea is to follow this target; DKJ has started to contract, so be prepared; if it breaks the key point, go short, if it doesn’t break, try the long position, remember to set a stop loss, and if wrong, just run.
For short-term operations, safety first; there’s no such thing as 100% certainty in the market, so set a good stop loss; small losses and big gains are the hard truth.
Short at 3400 to 3450, with protection at 3500 to 3550, stop loss of 50 points, target at 3350 to 3300; if broken, look at 3250 to 3200.
Long at 3250 to 3200, with protection at 3150 to 3100, stop loss of 50 points, target at 3300 to 3350; if broken, look at 3400 to 3450.
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