Warren Buffett once said, "If you are on the wrong road, running doesn't help." Li Hui suggests that no matter how accurate your grasp of the market is, you should not over-leverage in contract trading. Risk control must come before profit. Entry decisions should be based on the breakthrough of support or resistance levels, avoiding frequent trading, and managing positions and profit expectations reasonably. Spend more time observing, patiently wait for the right opportunity to reduce the cost of trial and error, enhance self-discipline and confidence, be prepared, and avoid blind operations. Maintaining good trading habits and steadily making progress is the key to long-term profitability in the market. Li Hui will continue to use professional knowledge to help every investor achieve wealth growth, and wishes everyone to achieve financial freedom in 2024. Keep it up!
September 22, Li Hui: Ethereum market analysis and operational suggestions:
It was mentioned the day before that the bullish target for Ethereum was above 2600. We can see that the coin price at the daily level has just reached the EMA60, which coincides with Li Hui's thinking. Currently, Ethereum has broken through yesterday's high in advance, while Bitcoin has not. So, at this time, everyone should not blindly chase after more, especially since Ethereum has rebounded quite a bit in the past two days. Li Hui believes it is worth considering entering a short position. The DIF is about to approach the 0 axis, and a small turning point is expected. The volume on the upside is not that strong, so if it breaks through the EMA60 again, it's good to consider the average price near the EMA80, and the stop loss can also be considered above this level.
The 4-hour Bollinger Bands channel is narrowing, and the upper track is also turning downward, indicating that the upward space will be compressed. However, the upper track is still trying to rise, the short and medium-term moving averages are rising, and the bullish space still exists, especially with the EMA30 approaching the EMA200, and the mid-track also breaking through 2500. Therefore, the strategy for entering a long position on the pullback low should also consider entering at this range.
In summary, Li Hui suggests that you can first try a small short position for a pullback, observe the strength of the market decline, and if the pattern does not break, the strategy remains the same, focusing on the pullback long and shorting at high levels as a supplement. Otherwise, switch!
Li Hui suggests a light short position in the 2605-2625 range; reserve the 2600-2730 range for adding positions on the upside, with a stop loss at 2750, and a target of 2550-2510. If it breaks through 2500-2480, you can continue to hold until around 2450-2430.
If the 2500-2480 range does not break, you can still consider entering a long position on the low side, with a light long position in the 2510-2550 range, and the target is to reduce the position in batches at 2620-2700 for profit taking.
Article review and publication may be delayed, and the market changes rapidly. Specific entry opportunities need to be combined with actual trading operations, and real-time notifications should be followed. The suggested entry points in the article are for reference only. Do not over-leverage, and bring stop-loss and take-profit orders when entering the market. Take profits when the time is right!
I, Li Hui, interpret world economic news, analyze the global trend of the currency circle, and have in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other currencies while studying and furthering my education 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 (WeChat public account: Zhang Lihui), for reference only, at your own risk. May we remain humble and brave in the complex currency circle, unafraid of challenges, and eager to explore. Just as "the road ahead is long and far-reaching, I will seek and explore," I hope that we will keep pace with the times, draw wisdom, travel thousands of miles, experience the wind and rain, and comprehend life.
With Li Hui's guidance, may you play to your strengths, create value, remember the baptism of the market, and stay true to your original aspirations. In the wave of digital currency, may we hold on to our beliefs, forge ahead, and jointly compose the future, sharing the joy of success. Let us work together to create brilliance in this investment journey full of challenges and opportunities!
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