After Ethereum fell sharply to the 3175 line, the white market was still able to rebound quickly and rise to a high near 3900. Although it plunged to around 3725 again last night, it rebounded again in the early morning, and the market fluctuated violently.
Yesterday, Uncle Yang mentioned that this sharp drop was to clear out excessive long positions. Only in this way can the way for a subsequent rebound be opened. Sure enough, after the market rebounded in the morning, it quickly rebounded to around 3800 within an hour or two at noon. In the real-time strategy, Uncle Yang proposed the strategy of stepping back to enter the market near 3530 to defend long orders and cover the position near 3510, which was a perfect entry.
Ethereum market analysis: With the lower long shadow line formed the day before yesterday, the market showed a strong recovery trend yesterday and reached a new high. It is worth noting that the market has not reached a new high, while Ethereum is in a compensating trend. Observed from the daily chart, the morning rebound touched the upper track and then stepped back, and the technical indicators showed a downward trend. Although Ethereum has remained strong in the past few days, if it can get out of the negative line normally, it may continue to push back. As the halving time approaches, Ethereum may usher in a larger market trend, but after the halving, we need to pay attention to whether there will be a bad trend at the end of the good news, because things will inevitably reverse. For investors who are shorting at high levels, they must set a stop loss and operate with caution to prevent accidents.
The market showed a strong rebound and repair on the 4-hour line yesterday, forming a big negative line. The rebound tried to break through the upper Fibonacci retracement line 1.13, but eventually fell back under pressure near 3906, dropped to around 3725 and then rebounded quickly. At present, the market is still fluctuating within the range. Judging from the technical indicators, there are signs of bearish engulfing at the top of the market, suggesting that it may continue to push back on the support below. The white market may show a downward trend in shock, especially after the rebound, the trading volume has decreased, indicating that it may enter a period of shock repair.
During the sharp rise and fall in the past few days, many investors may have missed market opportunities and therefore need to operate with caution. After the market rebounds, the volume will decrease and it is expected to go through a period of shock adjustment. For operations, it is recommended to continue to observe market fluctuations and wait for confirmation that the support below is not broken before considering entering the market with multiple orders.
Operation suggestions: Real-time strategies have been given. It is recommended to adjust the operation strategy in time according to market changes.
