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Coin Circle Academician: 2024.5.7 Ethereum (ETH) latest market analysis reference
Let's review the actual results of Ethereum yesterday. Yesterday's article clearly gave the current price opening point near 3160 for shorting, stop loss 6220, and take profit near 3090. Although this wave was thrilling, fortunately, the profits were safely cashed in. Many coin friends are operating mindlessly based on their feelings. After 3200 was broken, they chased the long position and were trapped by the ceiling. They ignored a very serious problem. Should they go against the trend or go short near the pressure point? They chose to go against the trend, which is not advisable. The academicians in the coin circle have reminded everyone more than once to learn to go with the trend. I won't say more. If it falls back to 3150 but does not break the long position near 3200, you can take the opportunity to exit.
Let's look at the market. It's 2:30 in the morning. The US market opened high and moved higher overnight, while the cryptocurrency market went the other way and moved downward. The daily K-line failed to hit the high pressure level of 3200 of the EMA trend indicator, and then fell back and broke through the two major support points of 3150 and 3090. Pay attention to the support point of 3027 below. If it holds, there is still room for maneuver. If it fails, look at the big support near 2845. The golden cross that KDJ just formed was pulled back to the opening, and the MACD volume began to decrease without any increase in funds. DIF and DEA are still spreading upward from a low level. Therefore, from the overall market, the short position has not been completely formed. Just pay attention to the support of the 3000 integer mark.
The panic sentiment in the four-hour K-line is more obvious. The K-line has fallen below the EMA trend indicator, resulting in the continuous bullish upward channel being broken. KDJ also spreads downward alternately. MACD has formed a dead cross and started to shrink downward. The distance between the lower rail support of the Bollinger Band 3060 and the upper rail pressure level of 3177 is too close, indicating that the main force has begun to shrink. The turning point of the ultra-short trend means that there is a good space to grab. As for how to grab it, you can refer to the suggestions
The reference for ultra-short-term contract entry is as follows:
The first entry point for long positions is to focus on the layout of the 3030 to 3050 range, with a stop loss at the 3000 integer mark, slightly lower than the trend line to prevent being swept. The exit point refers to the pressure near the two positions of 3130 and 3230. If it breaks, you can look at 3350. If it does not break, you can leave the market near 3200.
The entry point for short selling is around 3220, the defense point is 3330 to cover the short position, the stop loss is around 3355, and the positions are reasonably arranged for distributed opening of positions. The exit points refer to 3165 and 3120. (The aggressive ones can exit in batches and continue to look at the support around 3030 after the break)
The specific operation is based on the real-time data of the market. For more information and details, please contact the author. There is a delay in the release of the article. The suggestions are for reference only and the risks are borne by the user.
This article is exclusively contributed by the academician of the currency circle, and only represents the exclusive views of the academician. There are in-depth studies on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the time of article push, the above views and suggestions are not real-time, for reference only, at your own risk, please indicate the source for reprinting, and reasonably control the position when making orders, and do not operate with heavy or full positions. The academician also hopes that all investors understand that the market is always right. If you are wrong, you should summarize your own problems and don't let the profits that should have been obtained fly away. There is no need to be smarter than the market in investment. When the trend comes, respond to it and follow it; when there is no trend, observe it and stay calm. It is not too late to wait for the trend to finally become clear before taking action. Tomorrow's success comes from today's choice. God rewards diligence, earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards heart. Gains and losses are inadvertent. Develop the habit of strictly taking stop loss and stop profit for each order. The academician of the currency circle wishes you a happy investment!
