I have been participating in offline learning these days to consolidate my trading skills and improve my investment thinking.
The cryptocurrency industry is an industry that requires strong professionalism and changes very quickly. You need to constantly recharge yourself and improve your cognition. Only by continuous learning can you improve your proficiency in the trading system, understand more market conditions, and get the results you want.
Today, I will use the Qianlong Strategy to analyze Ethereum’s four-hour short-term market.
1. ETH broke through the four-hour bottom oscillation with large volume and entered an upward trend.
2. The breakthrough formed a rectangular pattern, which is a continuation pattern.
3. The short-selling volume shrinks during the pullback within the rectangle, indicating that the strength of the short-selling is weakening.
4. The four-hour short-term broke through the middle track of BOLL.
From the above clues, we can see that ETH is currently in an upward trend, and the power of bulls is stronger than that of bears. There is a high probability that there will be another wave of increases in the future.
Currently the price has reached the lower line of the rectangle. This position is a good short-term entry point. It is very close to the white oblique line support level below, and the stop loss is also relatively easy to set.
The quarterly delivery has ended. As I mentioned yesterday, the quarterly delivery market has already occurred in advance, and the possibility of further decline is very small.
Some people are saying that there is little possibility of an interest rate cut in September this year. If there is no interest rate cut, the bull market will not start. My opinion is different from theirs. Whether the interest rate is cut this year or not, it will not affect the bull market, and it is even more impossible to turn the bull market into a bear market.
The Ethereum ETF has been approved. Once S1 is passed, the Ethereum ETF will be officially traded. This is basically branded, which will bring a huge amount of traditional financial funds to the entire cryptocurrency circle, and an interest rate cut is basically inevitable.
Therefore, it will not have much impact whether the interest rate is lowered in September or not. As I said before, no matter how bad the weather is in summer, it is still summer, and it will not turn back to spring just because of bad weather.
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.
