Good evening, everyone. I am Shihun.
This morning I gave you a general market situation. Now I will tell you in more detail.
The trend of the K-line of the big cake is that the five waves are now extending. The extended wave is shown in the white broken line in the figure, which means that the current market has an expectation of turning upward.
But! I have seen too many failures of the five waves, and in the rising wave at the end of the five waves, it is necessary to be cautious when doing longs. Hanging high and hanging low is the best choice.
1. Here we assume that the five-wave extension wave of the big cake goes as expected, then the price will definitely break through 60,000 again, but what we are afraid of now is the failure of the five waves. Here, according to the wave theory, if there is a failure of the five waves, there will be a three-to-three long-to-short pattern, and the follow-up will be bearish. And the five waves themselves are at the end of the rise, not to mention that it is still the fifth wave of the extension of the five waves.
Here is a pending order at 61750, with a stop loss of 62500. (The premise is that today's low point of 60076 is not broken, if it is broken, we need to look again)
2. Here we assume that the fifth wave fails, then the momentum of this wave of decline will increase, so we must be cautious when looking for low and long positions.
Here is a pending order: 56800 long stop loss 56000
Ethereum 2193-2199 is the pin range 2200 is the best place to take long, stop loss 2160
3. Another expected approach is to buy more at the current price, stop loss 58078, which is the stop loss at the low point of today's pin. (Here is an expectation of the last high point of the five waves according to normal theory)
Here I don't recommend doing this. The first point is that it is now in a position that can go up or down. I can go up to 60000, and I can go down to 56800, that is, two expectations of failure or no failure. It is too risky to use the current price to fight, and it is not as stable as the pending order.
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