Crypto Circle Academician: Short-term bearish on Ethereum as of 12.10, deep correction may be the best entry point!

Ethereum is currently priced at 3828, it is now 3:20 AM Beijing time. Yesterday, the entry point of 3850 was provided; how much did you all gain? The highest was around 3945. I thought it could continue to rise, but the market didn't support it, breaking below the neckline support at 3920. I have to urgently avoid risks, taking profits of less than 70 points. Although I am bearish in the short term, I am not willing to chase short positions but choose to wait for opportunities, signals, and the best entry points. Where? Below 3750. Generally, I prefer to enter after a breakdown because the larger trend is bullish; the deeper the correction, the more beneficial it is for us.

The daily K-line has a maximum of 4010 and a minimum of 3800, with the EMA15 trend line support at 3715, which is also the key neckline level. The MACD's volume is decreasing, and the DIF and DEA may form a death cross at a high position. The Bollinger Bands are starting to contract, and the fast line is diving down. Pay attention to the middle track support at 3610. An overall trend has shown a pullback, with the rising trend line support near 3720. If the support holds, it can be used again as the first entry point for long positions.

The four-hour K-line has continuously closed in the red. Pay attention to the strength of the EMA60 support at 3800. If it breaks, reference the EMA90 support at 3710, which is our first testing point for going long. The MACD continues to shrink downwards, with the DIF and DEA expanding downwards, combined with the Bollinger Bands opening downwards. The lower track at 3830 has been lost, and a short position has formed a trend. Aggressive traders should short at the current price, with a stop loss above 3830 and a potential profit space of around 50 points. Do not hold onto it. The larger trend is bullish, and shorting is a counter-trend position. Cautious traders should mainly wait for low positions to go long and be careful with 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 lower positions between 3700 and 3750 long, defense at 3650, stop loss 50 points, target looking at 3800 to 3850, if broken, look at 3900 to 3950.

For upper positions between 3950 and 3900 short, defense at 4000, stop loss 50 points, target looking at 3850 to 3800, if broken, look at 3750 to 3700.

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