Ethereum showed a picture of fluctuating upward in the early trading of yesterday's trading day, and there was an unexpected plunge in the late trading, reaching a minimum of around 2500, but it did not fall below the previous low point, and then rebounded. This round of fluctuations may be a clever operation to lure shorts. In the early morning of today, the market ushered in a wave of gains, rising to around 2613, and then fell back. The current market is hovering around 2580.
Yesterday, Lao Lin suggested in his analysis that we should pay attention to the rebound signal. For short orders, we can consider entering the market around 2535-2560, and set 2500 as the take-profit point in combination with the real-time strategy to lock in profits in time. For those who follow the strategy, this rebound may bring a round of rich profits to short position holders.
In the market analysis of Ethereum, yesterday's rebound was suppressed near the upper track of the weekly line, although a large positive line was formed to repair the previous large negative line trend. However, from the perspective of technical indicators, the price rebound is still subject to certain constraints, and various technical indicators have not been fully repaired, and there is still a downward trend. The support level below can be focused on the 5-day moving average near 2550. If it falls below this level, it is necessary to pay attention to the support near the 10-day moving average.
On the 4-hour line, yesterday's market entered the shock repair of the triangle area as expected. A wave of decline in the evening tested the support of the rising trend line and successfully rebounded to break through the resistance of the falling trend. However, the Fibonacci retracement line at 0.5 near 2600 became a position of suppression and retracement. Technically, a 4-hour line with a long upper shadow line indicates the suppression from above, and is also subject to the resistance of the upper rail. If this 4-hour line falls as expected and forms a negative column, there will be a chance to start a wave of decline, and various technical indicators also show a downward trend. Therefore, in the white market, you can enter the market at a high level. If you can successfully form a top, continue to look at the bearish trend, and pay attention to the support below around 2570-2550.
This series of fluctuations provides opportunities for investors. Let us explore together how to gain profits from fluctuations.
Finally, what Lao Lin wants to say is that there are still many things that have not been expressed, and not everything can be understood through just one article. You can continue to follow Lao Lin, and let us create brilliance together in the new round of bull market!
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