Contract trading is nothing more than two directions, and the first consideration for long and short entry decisions is the overall direction. Following the major trend and taking a reverse position will never be wrong! There are several points to the trading mechanism: do not operate frequently; do not hold positions in two different currencies in the same direction at the same time; the initial position should not exceed 5%, with 1-2 times for additional positions; do not add positions too close, adding positions at support and resistance levels will never be wrong, and stop loss is necessary for the second breakthrough; learn to wait for opportunities, only those who are patient can find the most suitable entry points, it's better to miss than to make mistakes; after exiting, learn to review, identify the problems and strengths of the trades; make good use of distributed position building, reducing positions, adding positions, and taking profits; review technical indicators on the market, and look for signals of rebound and retracement; constantly improve and maintain good trading habits, stay humble and cautious, and only by doing so can one achieve long-term profits in the industry! Li Hui will continue to uphold professional knowledge, meticulous analysis, unique position building techniques, and remain calm in the face of danger to assist every coin trader in successfully gaining valuable wealth, and continuously realize their own value in the coin circle! Wishing everyone to achieve financial freedom in 2024! Keep it up!
Ethereum market analysis and operational suggestions on July 7.7:
Li Hui mentioned the formation of the Bitcoin M-shaped pattern the day before yesterday, indicating a second retracement, and Ethereum will eventually form a similar state, which currently aligns with the market trend indicators. Looking at the daily chart, Ethereum has broken through 3000 and reached a low of 2820 before rebounding. Has it formed a bullish reversal? Li Hui believes that there is still no clear signal of a short-term trend reversal, and there will be 2-3 more instances of reaching a low, so everyone should be cautious.
The Bollinger Bands on the 1-hour chart are opening upwards, and the coin price has been maintaining the position of the EMA60 moving average. There may be continued oscillation within this range over the weekend. If there is a breakthrough, the resistance above the candlestick will be at EMA80 (3085) and EMA120 (3150), which should be observed.
On the 4-hour chart, there are signs of a reversal in the Bollinger Bands channel, with a sharp reversal at the upper band. The coin price is intentionally staying above the EMA15 position, and if there is a breakthrough, the resistance above the oscillation range will be at EMA30, also at the 3150 level. There is a sentiment for short positions, and the DIF and DEA have formed a golden cross at a low level, so heavy long positions holders can consider reducing positions or stop loss at this level.
The Bollinger Bands on the daily chart are still opening downwards, indicating the possibility of a significant market movement. The resistance above the candlestick is at EMA200, with EMA30 moving down close to EMA80, EMA15 crossing below EMA120, and EMA10 approaching EMA150; these can be used as reference for short to medium-term bearish signals. If there is a rebound in the larger timeframe, it is still necessary to observe whether a dense average phenomenon can form in the short term, which is not present at the moment, and the short-term averages are still probing lower.
In summary, Ethereum's market may experience a breakthrough and then rise after oscillating within a range during the day.
It is recommended to enter the main short position at 3075-3095, reserve 4% for adding positions in the 3150-3170 range, stop loss at 3200, and take profit at 3025-2975-2915.
Article reviews may have delays, and the market is constantly changing, so please set your stop loss and take profit levels, and take profits when the opportunity arises! For more real-time signals, you can follow the author's official account to learn about market technical analysis and how to get out of a predicament!
I, Li Hui, interpret world economic news, analyze global trends in the coin circle, and have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other currencies while studying in the United States. For those who do not know how to operate, you are welcome to comment and leave a message!
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This article is exclusively published by (Official Account: Zhang Lihui) and does not represent any official position. The points mentioned above are for reference only, and the risk is at your own discretion! May we always carry humility and courage in this complex and ever-changing coin circle, fear no challenges, and dare to explore. Just as the road ahead is long, "the road ahead is long and winding, I will seek and explore." May we read thousands of books, keep up with the times, and draw wisdom from the fountain of knowledge. After traveling thousands of miles, experiencing storms, witnessing scenery, and understanding life, may you, under the guidance of Li Hui, avoid weaknesses and play to your strengths, and create value together. May we always remember the market's baptism, not forget our original intentions, and move forward with determination in the wave of digital currency. May we, holding hands, jointly compose the future, and share the joy of success. Let us gather in the turbulent world of digital currency, make the most of our time, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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