The essence of trading is survival, and only then comes profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to develop a trading mindset that belongs to you, continuously optimizing and improving it. Although the suggestions from the crypto circle academicians may not make you rich overnight, they can help you sustain yourself. Only those who survive in the crypto space for the long term and persist until the end can achieve the results they desire. I hope you understand this.

I am a warrior in the crypto circle, always protecting the retail investors. I wish my followers financial freedom in 2024. Let's work hard together!

Crypto Circle Academician: 2024.10.3 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 2420. It is now 2:50 AM Beijing time. Ethereum is short at 2500, with a previous low of 2400 as a target, aiming for a hundred-point space. Currently, I am in a short position. As for the practical trading records, they have been updated in my friend circle. You can compare them with the market to see the academician's layout. The daily K-line still has more than five hours until the close. As long as it does not break 2500, the short position will continue.

Because the daily technical indicator MACD has finished expanding and is starting to contract downwards, the DIF and DEA have formed a death cross above the 0 axis, indicating a short position is coming. Additionally, the Bollinger Bands show effective resistance at 2515, with support at the lower band around 2260. The KDJ is expanding downwards into the oversold zone. Although it has not entered extreme oversold territory, there is still bearish momentum present. However, a pullback cannot be ruled out, so it is safest to wait for the resistance level to short.

The 4-hour K-line shows a descending triangle, with the support point being the previous low of 2400. Given the overall strong bearish sentiment, it will be difficult to hold 2400. You should also notice that the market was similar at the beginning of September, where it went through a month of trading and returned to the starting point. The MACD is contracting downwards, and the DIF and DEA have formed a bottom divergence. The Bollinger Bands are expanding downwards, with support at the lower band around 2390. The KDJ is continuing to expand downwards, and the overall trend remains bearish. The suggested approach is to focus on shorting during pullbacks, with longs as a supplement. Regardless of the direction chosen, safety first, and ensure proper defense.

Short-term reference: Safety first. Remember that the market is never 100% certain, so always set stop-losses. The goal is to minimize losses while maximizing gains.

For the lower range of 2330 to 2300, go long, with a defense level of 2220 to 2250 for additional positions, targeting 2400 to 2500, and if broken, look at 2600, with a stop-loss of 50 points.

For the upper range of 2470 to 2500, go short, with a stop-loss of 50 points, targeting 2400 to 2350, and if broken, look at 2300.

Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication, so the suggestions are for reference only, and risks are to be borne by you.

This article is exclusively contributed by the Crypto Circle Academician and represents the unique views of the Academician. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions may not be real-time and are for reference only. Risks are to be borne by you. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The Academician also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies. Do not let the profits that should be yours slip away. There is no need to be smarter than the market. When a trend arises, respond to it; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success stems from today's choices. The way of heaven rewards diligence, the way of the earth rewards kindness, the way of humanity rewards sincerity, the way of business rewards trust, the way of industry rewards excellence, and the way of art rewards passion. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The Crypto Circle Academician wishes you happy investing!

Warm reminder: The above content is solely created by the author of the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully. Thank you for reading.

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