Crypto Circle Academician: Ethereum is about to welcome extreme market conditions on 12.16! Can you seize this opportunity?
The current price of Ethereum is 3900, and it is 4:10 AM Beijing time. The short position indeed cannot be held for too long; it did not revisit the bottom after reaching a low of 3820. The price retraced and broke below 3880, so we could only helplessly take a profit of around 50 points. There are less than four hours left for the weekly closing. A long hammer candlestick has appeared. If it does not break 4000 before the close, then next week’s market will see many extreme conditions, and another round of both long and short liquidations is expected. The safest approach is to wait for a bottoming out before entering long positions.
On the daily K-line, the highest was 3921 and the lowest was 3830. The EMA15 trend line has stretched to 3785, and EMA30 has reached 3600. Apart from the MACD showing reduced volume, the DIF and DEA are expanding at a high level. The Bollinger Bands indicate an upward channel trend, with the upper band at 4100 and the middle band at 3760. There are two key entry points: the first is 3760, and the second is 3600. You can set alerts for these two price levels.
On the four-hour K-line, the upward trend is blocked at 39000 and is consolidating, with the EMA trend indicator contracting. Overall support is pushing upwards, with EMA120 at 3720. The MACD has been continuously reducing volume while increasing positions, and the DIF and DEA are contracting. The market could form a golden cross at any time. Pay attention to the pressure at the previous high of 3930; if broken, it is likely to hit 4000. The Bollinger Bands are extremely contracted, with the upper band at 3935, indicating that the trend for this week will become clearer. The KDJ is expanding upward, and whether the main force will induce a short squeeze again while accumulating at the bottom remains to be seen. We can be patient and wait, focusing on low long positions while being temporarily cautious about shorting.
Short-term reference: Safety first. Remember that the market is never 100% certain, so always set a stop-loss. Safety first, small losses with big gains is the goal.
For the upper range of 3950 to 4000, short positions, with a defense at 4050, stop loss at 50 points, and target looking at 3900 to 3850. If it breaks, look for 3800 to 3750.
For the lower range of 3750 to 3700, long positions, with a defense at 3650, stop loss at 50 points, and target looking at 3800 to 3850. If it breaks, look for 3900 to 3950.
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I am a Crypto Circle Academician, a warrior who has always been protecting retail investors. I wish my fans financial freedom in 2024. Let’s work hard together!
