Crypto Circle Scholar: 11.30 Ethereum Bulls Return! How to Position at Key Levels
Current price of Ethereum is 3578, it is now 4 AM Beijing Time, Ethereum has returned to the neckline. My thinking is very simple, the pullback is only effective, a long position can be taken, the target is the previous high of 3688, if it breaks, we will continue to look upwards. The rotation of the second pie sector has already begun and is far from over. Before that, as long as we confirm the support neckline, we can go long, follow the trend, so yesterday's 3550 was effective for entry, make sure to defend and set stop loss, if wrong, exit with a small loss, if right, hold and look for the previous high.
Before the publication, the daily K-line reached a maximum of 3650 and a minimum of 3535. The EMA trend indicator remains bullish, the EMA15 support has come to 3345, and is still stretching, expected to stretch to above 3450 close to 3500 to form new support and continue the bullish trend. MACD is expanding upwards, DIF and DEA are diffusing bullishly, and the Bollinger Bands are opening up, the K-line has returned to the channel, temporarily constrained by the upper track of 3642, the resistance level has been lost, so we can continue to look upwards for new resistance points.
The four-hour K-line forms a clear ascending flag shape, so if the bulls pull back and do not break 3500, they can hold. Conversely, if it breaks down, it may form a short bearish trend looking for 3400. MACD is shrinking downwards, forming a top divergence. The Bollinger Bands show a trend of contraction, the upper track resistance has come to 3735, and the middle track support is focused on 3535. The thinking is mainly low-long, with short as a supplement. In the case of an unchanged trend, all pullbacks can look for entry points.
Short-term reference: Safety first, remember that the market is not 100%, so always set stop losses. Safety first, small losses and big profits are the goal.
Above 3800 to 3850 short, defense 3900 to 3950, stop loss 50 points, target looking at 3700 to 3600, break point looking at 3500 to 3450.
Below 3450 to 3500 long, defense 3400 to 3350, stop loss 50 points, target looking at 3600 to 3650, break point looking at 3700 to 3750.
Flag indicator reference:
Above 3640 to 3650 breaks, go long, target 3730, stop loss 20 points.
Above 3640 to 3650 does not break, short, target 3550, stop loss 20 points.
Below 3530 to 3500 does not break, long, target 3600, stop loss 20 points.
Below 3530 to 3500 breaks, short, target 3400, stop loss 20 points.
