7.4 Mr. Coin: Ethereum Market Analysis, Ethereum Short-term Trading Strategy, Ethereum Today's Market.

CN
1 year ago

The essence of trading lies in the ability to seize opportunities, plan before taking action, and strategize. This has always been the key to Mr. Coin's success in the market. Many people fail due to chaotic operations, lack of planning, and most importantly, heavy losses caused by holding positions, locking positions, refusing to cut losses, and lacking a clear strategy. The fear of missing out on market trends, following the wrong orders, following the crowd, and having a poor mindset often lead to small gains and large losses. Therefore, it is important to carefully consider entry points before taking action. Aggressive entry points can leave one in a dilemma between long and short positions, either catching the highest or lowest point, resulting in significant price differences. Reluctance to cut losses can only lead to holding positions, while stable entry points allow for profitable exits and timely exits.

In the past two days, Ethereum has also been closely linked to Bitcoin, currently in a weak position, trading around 3300. It touched the low of 3250 during the day and saw a slight rebound, entering a consolidation phase at the low level. On the four-hour chart, the price is running below the lower Bollinger band, and the MACD histogram is shrinking. The daily chart and the movement of Bitcoin are similar, with the KDJ forming a golden cross, indicating that if the previous low is broken again during the day, there is further downside potential. The resistance on the daily chart is also gradually moving lower. If the rebound cannot be sustained in the future, once the support at 3250 is broken, there is a possibility of further testing the 3100 level. Therefore, our short-term suggestion is to focus on short positions on rebounds.

Pay attention to the resistance at 3310-3330, and consider entering a light short position. Add to the position at 3395-3425, with a stop loss at 3480, and take profit at 3250.3220 (continue to hold if 3200 is broken). It is advisable to wait and see for long positions.

There may be a delay in the publication of this article, and the market is constantly changing. No matter how high your judgment of the market is, it is essential to set stop-loss and take-profit levels. More real-time signals can be obtained by following my public account, where you can also learn about technical analysis of the market and how to exit positions. I have been studying the market for many years, analyzing the major trends in the cryptocurrency market, and have studied and guided the trading of BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are not familiar with trading, you are welcome to study and learn together.

This article is exclusively written and shared by Mr. Coin, representing his exclusive viewpoint. There may be a delay in the publication of the article, and all risks are assumed by the reader. It is important to control your position reasonably when trading, and avoid heavy or full positions. Mr. Coin hopes that all his fans and friends can achieve financial freedom together and move forward together. In the depths of time, hold onto understanding. In investment, it is important to learn to be optimistic. Do not let the future you dislike the present you. We are living in reality, but not every piece of data needs to be taken seriously. Let the past go, and let the future come faster! Take good care of yourself, prepare yourself at any time, and keep moving forward!

  • This article is written by Mr. Coin in the cryptocurrency circle, and plagiarism is rejected. Respect originality!

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