ETH:
Macro: Pay attention to the CPI data at 20:30 in the evening and the interest rate decision at 2 am on Thursday. Major risk events have a greater impact on prices.
Technical:
1. The recent decline marks the formation of the arc top, and short-term shorts dominate.
2. Trend trading is mainly short-selling at highs, and the upper pressure focuses on the reverse suppression near the low point of the high-level oscillation range of 3600.
3. Although the short-term performance is a decline, in the 4H Vegas channel, the EMA moving average shows that the overall is still in a long position. Since the price has fallen below the short-term EMA moving average, the lower support focuses on the long-term EMA moving average.
4. Assuming that the data and interest rate decision are bearish, if the price falls, you can focus on the potential long position opportunities near 3300 (Fibonacci 0.618, long-term EMA moving average, the high point of the previous bottom rectangular range, the area of ââintensive trading volume, the overlap of daily MA60 and MA120)
Trading strategy:
Short order: Try to short near 3600, stop loss 3700, target 3500-3400 (intraday + trend trading)
Note: Before the CPI data is released, if there is a transaction opportunity and the price falls, you can set a stop loss to continue holding and gamble on the space below
CPI data strategy is mainly based on instant prompts!
