Crypto Circle Scholar: On November 28, the Ethereum sector rotation begins, the bullish trend continues, and bears have nowhere to escape!
The current price of Ethereum is 3587, and it is now 3:30 AM Beijing time. Do not doubt that the sector rotation has really begun. The market share is starting to shift from Bitcoin to Ethereum, and the highly traded second-tier coins will definitely be the hot coins recently, so the volatility of these second-tier coins will be very large, at least a few hundred points up and down. Otherwise, I wouldn’t have chosen to open a short position when the right shoulder was showing signs, with a stop loss at 3500 to prevent Ethereum from rising again. From the current market situation, everyone should understand the importance of setting stop losses. No one can be 100% accurate in trading, so you must enter at key points and choose a small stop loss location for your layout. This way, even if you are wrong, you can exit with a small loss, and if you are right, you can make a big profit.
The daily K-line has a maximum of 3615 and a minimum of 3300. The first resistance level at the daily level has been broken, and the previous high has also been broken. The major resistance level is above 2800, and the EMA15 trend support has been extended to 3265. Despite this, the bullish network expansion trend indicator has not ended, indicating that the current rebound will continue. The MACD volume increase is not very obvious, but the DIF and DEA are naturally expanding upwards. Overall, the top divergence will still continue. The upper band of the Bollinger Bands has lost support at 3535, and the overall trend is mostly bullish, so we will not short for now.
Now let’s look at whether there is a possibility of a pullback in the four-hour chart. We are currently at a pressure level in an upward trend, and we need to pay attention to whether 3630 can form effective resistance. The EMA15 trend support has come to 3450, and we expect to see a pullback to this support level to enter. The MACD has shown continuous volume increase, and a ladder volume indicator has appeared. The DIF and DEA continue to expand upwards, and the V-shaped transition has ended with a bullish bat pattern. The K-line has continuously broken through the upper band of the Bollinger Bands at 3600, and the resistance level has been stubbornly attacked. The bullish trend continues, and the approach is mainly to buy on pullbacks, with short positions as a supplement.
Short-term reference:
Sell at 3800 to 3850, with a stop at 3900 to 3950, stop loss 50 points, target looking at 3700 to 3600, break point looking at 3500 to 3450.
Buy at 3450 to 3500, with a stop at 3400 to 3350, stop loss 50 points, target looking at 3600 to 3650, break point looking at 3700 to 3750.
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