Crypto Circle Scholar: Short-term Trading Skills for Ethereum on December 28: How to Profit Amidst Volatility!
The current price of Ethereum is 3323. It is now 6 AM Beijing time. Congratulations to the crypto friends who went long yesterday at 3300; it seems the clouds have parted. Let's first review the main line I provided yesterday, which was a bearish approach at 3420 entry, taking half profit at 3330, and there’s no rush for the remaining part. If the main force returns above 3400, we can buy back the portion we sold and continue to look south. The target is not 3300, but rather the two major key supports at the previous lows of 3240 and 3160.
On the daily candlestick, the highest was 3445, the lowest was 3305, and a long upper shadow appeared upwards. This is a typical signal of a bull trap. If the daily candle does not break the EMA60 resistance level at 3370 before the close at 8 AM, those who have not entered can use this opportunity to go short, targeting the EMA90 support at 3240. A bottom divergence in MACD has appeared, with both DIF and DEA about to enter below the zero axis, indicating a bearish trend. The Bollinger Bands are expanding downwards, and the lower band has moved down to the support point of 3150. The overall trend remains bearish.
The four-hour candlestick continues to maintain a bearish approach. After repeatedly hitting the EMA30 resistance at 3400, the fast line failed and fell back. MACD volume is shrinking, with DIF and DEA moving sideways. The lower band of the Bollinger Bands supports focusing on 3280. Currently, the fast line is in a downward channel, with the mid-band resistance at 3410. If it does not break, we can continue to short; if it breaks, we will look at the upper band resistance at 3540. Be prepared for both scenarios and pay attention to key resistance levels. For those who have entered, continue to hold and look at the previous lows; for those who have not entered, wait for a pullback to find opportunities, or consider entering if it further dips below 3200.
Short-term reference: Safety first. Remember, market conditions are never 100%, so always set stop losses. Safety first, small losses, big gains is the goal.
For bullish entry points: 3240 to 3200, with a stop loss at 3150 to 3100, a stop loss of 50 points, and a target looking at 3300 to 3350, with a breakout target at 3400 to 3450.
For bearish entry points: 3380 to 3420, with a stop loss at 3470 to 3520, a stop loss of 50 points, and a target looking at 3330 to 3280, with a breakout target at 3230.
Don't forget, the darkest hour is often just before dawn. On the road to chasing dreams, you are never alone; you still have me.
I am a crypto circle scholar, a warrior who has been protecting investors. I wish my fans achieve financial freedom in 2024. Let's work hard together!