Tomorrow is the last day of November. Those who were waiting for a big drop in December have already liquidated their positions and have already established short positions. However, judging from the short-term market conditions of Ethereum, there are no signs of a big drop yet.
Today, I will use the Qianlong Strategy to analyze Ethereum’s four-hour short-term market.
1. First of all, from the overall trend, Ethereum is currently in an upward trend in the four hours. Although there is a pullback, the amplitude of the pullback is not large.
2. There are triple supports below: the previous high support level, which is also the support level formed by a large concentrated trading area, and the support formed by the middle track of Bollinger. Both callbacks did not fall below it, indicating that the support below is very strong.
3. Although the previous four-hour K-line closed with a negative line, the price did not break the previous low, and the volume was shrinking, which shows that the strength of the bears is weakening.
Through the above analysis, we can judge that Ethereum's four-hour correction has ended, and the short position has weakened near the important support level, which means that the bulls are about to start to exert their strength, and Ethereum will usher in a four-hour level rise in the future.
The triple supports below $3,500 are very strong, and this position is a good entry point in the short term.
The current market trend is still relatively healthy. Judging from the market, there is no sign of a big drop. Why should we speculate that there will be a big drop in December?
Trading is not based on intuition or past data. It requires judgment based on market trends. Each bull market trend is different. Trying to follow a similar pattern will only put you in endless pain.
Sancai's Qianlong Strategy taught me to treat the market objectively, and to analyze whether the market will rise or fall based on the strength of the bulls and bears in the market. No matter what the conclusion of the rise or fall is, it needs sufficient basis to support it, so that I can be objective in the trading process.
Trading cannot be emotional, let alone based on guesswork. After all, real money is not something that comes with the wind. It is hard-earned money and must be taken seriously.
The four-hour market changes very quickly. Short-term trading should be exited when profits are good. Don't let yourself be trapped because of greed. Short-term trading emphasizes capital utilization, so you must be willing to take profits and dare to stop losses, otherwise the meaning of short-term trading will be lost.
The above analysis only represents personal opinions and does not constitute any investment advice.
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