Hey, new friends in the cryptocurrency world! Today, let's talk about the latest trend of Ethereum in a more easy-to-understand way, so you can easily grasp the market dynamics!
First, a small bullish candle appeared on the daily chart of Ethereum yesterday, shaped like a doji star, and the trading volume was about half of the previous day. What does this mean? Simply put, it indicates that the market is currently experiencing small fluctuations and low trading volume, like the ripples on a lake, calm with subtle changes. We call this 'market consolidation.' But don't worry, consolidation often means that a big opportunity is not far away!
Let's talk about the MACD indicator again. It has slowly returned to the area near the zero axis, like a runner gradually slowing down, indicating that the momentum of the decline is weakening. If in the next few days, trading volume suddenly increases and bullish candles appear frequently, it would be like giving the market a shot of adrenaline, and a wave of daily-level rebound is coming!
Speaking of institutions, we must mention BlackRock. This big player has been buying Ethereum like we can't help but place an order when we see something we like. They previously bought a lot of Bitcoin and are now turning their attention to Ethereum, indicating their optimism about Ethereum's future price increase. By following the institutions, we can also benefit, and maybe even reap considerable rewards!
Speaking of resistance levels, the daily MA30 line is like a high threshold. When the price rebounds to this level (around 3690), it can easily trip and then pull back. So, if you have long positions, don't forget to take partial profits here; don't let the profits slip away!
Let's talk again about the altcoin market led by Ethereum. As long as Ethereum continues to rise, altcoins will rebound too, just like a leading sheep leading a group of lambs.
Don't forget about the resistance and support levels; they are like the ceiling and floor of the market. When the price rises to a certain level, it will encounter resistance, and when it falls to a certain level, it will find support. The daily resistance levels are at 3580-3680-3825-4200, and the support levels are at 3330-3200-3020-2870.
Finally, the hourly trend is like a sprint race. When the 4-hour pullback encounters the EMA52 line, it's like an athlete facing an obstacle, resulting in narrow fluctuations here. But don't worry, the MACD indicator is also returning to the zero axis, making it easy for the price to break through this obstacle. In the short term, you can short at 3580-3680 and long at 3415-3380; this is effective within the day!
Finally, let's take a look at the liquidation heat map data for Ethereum, which is like trading volume in the stock market. It tells us which price areas have a lot of buy and sell orders waiting to be executed. When the price rises, there are a lot of short orders waiting to be liquidated in the 3550-3620 area; when the price drops, there are also a lot of long orders waiting in the 3436-3200 area. This data is like a barometer of the market, helping us better judge the market trend.
Alright, that's it for today's sharing! I hope this easy-to-understand content can help you better understand the dynamics of the cryptocurrency market!
#本周微策略是否继续增持BTC？
For the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, with an expected space of more than 10 times being no problem. Like and comment and I'll take you through the entire bull market!