11.20 Zhang Lihui: Ethereum market analysis and trading suggestions:
After publishing the article early yesterday morning, the market quickly reached the long position range of 3110-3130, triggering a rapid rise to above 3200. The space is visible to everyone, and it was mentioned that if 3235-3245 does not break, a short position could be taken. The market rose quickly and fell quickly, and many friends in the cryptocurrency community likely missed out while asleep.
Continuing to look at the market, just now Bitcoin has once again surged to a new high; in the hourly chart of Ethereum, the upper band of the Bollinger Bands is rising, and the K-line retracted to EMA300 and the lower band range last night, forming a rebound again. Currently, the K-line is pushing up towards the MA30 and upper band range. As mentioned yesterday, MA180 and MA220 still cannot act as resistance points, so today's high point pressure will be on whether the position at 3230 can break through; MACD has formed below the 0-axis, with DIF and DEA converging again, potentially forming a golden cross. Thus, there may be a small burst for long positions or a supplementary rally; the strategy remains to enter long on retracements.
In the 4-hour chart, the Bollinger Bands channel is parallel, and the upper band is below yesterday's high, indicating that there is still some pressure to break through. We need to see how Bitcoin pulls up; the evening K-line has dipped to the EMA60 level, forming a rebound, and is currently attempting to stabilize around the MA30 and middle band range. If the upper MA60 resistance is broken, we can see the upper band position, with defense still set at the lower band and EMA80 range; MACD above the 0-axis is shrinking close to the 0-axis position, with the fast and slow lines converging, waiting for the DIF to intersect the DEA; however, we also need to be cautious of the false reversal formed by the death cross.
The daily level Bollinger Bands have opened parallel, and the lower band has ended its upward posture, but EMA10 and EMA15 continue to show upward trends, including EMA30, 60, and 80, all indicating a bullish pattern. We continue to expect bullish momentum.
In summary, Lihui believes that the range oscillation has not effectively broken, and we can continue to layout low longs and high shorts; today's short entry opportunities can still be considered for short operations if the high point on the 14th does not break.
Beijing time, November 20, 2:13 AM editor: I suggest entering long positions below 3130, reserving a position between 3060-3040 for additional purchases; stop loss at 30 points; target 3190-3220; if breaking above the 3235-3245 range, continue to hold.
For short positions, attention can be paid to entering lightly if the range of 3235-3245 does not break, with a target of 3165-3130; specific entry opportunities for short positions will be confirmed by real-time notifications from Lihui!
There is a delay in the review and push of the article, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations. The suggested entry points in the article are for reference only; do not operate with large positions. Please ensure to set take profit and stop loss when entering, and take profits when seeing gains!
I, Li Hui, interpret the world's economic news and analyze the global cryptocurrency trends. During my studies in the US, I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. Friends in the cryptocurrency community who are unsure about trading are welcome to leave comments!
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