$ETH
Ethereum current price 3625, it is now ten o'clock in the morning. Let's review: Ethereum's daily K-line has once again broken the previous high, but it has also fallen below the neckline level of 3690. Ultimately, long positions were closed at the neckline level without chasing the short, but last night we entered the long position at 3560, with a defense at 3530 and a stop loss set below 3500. Whether it can hold is secondary; first, we get in. If wrong, we'll exit with a small loss; if right, congratulations to everyone.
Let's look at the current market: the daily K-line reached a high of 3765, breaking the previous high again, and then the main force closed out long positions, with a low of 3555. We placed an order at 3560, otherwise, we really wouldn't have been able to get in. We mustn't have a mentality of luck; we cannot rule out the possibility of further liquidation, so it is essential to set stop losses. For now, we won't consider profits; surviving is the priority. The EMA15 trend support is at 3450, with the major neckline level at 3300. The MACD has been showing a top divergence for a long time and has been increasing in volume. The DIF and DEA are also spreading at high levels. Although it has already come down by two hundred points, it is still at a high level. The fast line has not broken the upper Bollinger band at 3790, and the middle track support is at 3350.
On the four-hour K-line, a double bearish engulfing pattern has appeared, continuously piercing the EMA30 trend line at 3615. The next level of support is at EMA60 at 3524. The bearish trend is indeed strong, but the major bullish trend has not yet broken. The MACD is contracting downwards, and the DIF and DEA have come close to the zero axis. Additionally, the K-line has continuously tested the lower Bollinger band support at 3570. Our entry point is 10 points below the lower band at 3560. The stop loss will not be placed too far; if wrong, we'll exit with a small loss. We will monitor the next key support near 3300 and hold for now. The strategy remains to buy on dips and exercise caution when shorting at highs.
Short-term reference:
Above 3700 to 3750 short, defense at 3800, stop loss 50 points, target looking at 3600 to 3550, break at 3500.
Below 3500 to 3530 long, stop loss 50 points, target looking at 3600 to 3650, break at 3700.
Currently, manage the defense point and stop loss for the long position at 3560, safety first, and monitor whether the previous high can be broken to decide whether to close.