Coin Circle Li Ying: Market Sentiment is Strongly Cautious on October 4! How Will Ethereum's Volatility Affect Market Direction? Latest Market Analysis

Article Published on 2024.10.4—1:00 PM

The market is generally moving as expected; it just depends on how to navigate it. Li Ying reminded everyone yesterday that the continuation of the bearish trend around the 2400 mark is crucial, just like the focus on 2500 the day before. Today, the market is still paying attention to the price action near 2400, with support below at 2300. The specific follow-up strategy will have to wait until after the non-farm payrolls; currently, it is unclear whether the non-farm data will be bullish or bearish. We will only know for sure once the news is released, which indicates that one should not blindly speculate. It is more intuitive, safer, and more stable to focus on the data.

Looking at the current price trend, Li Ying first analyzes that the recent price has shown a downward trend based on the candlestick patterns, especially with a significant pullback occurring between the 1st and 3rd. In the 4-hour timeframe, the candlestick has rebounded multiple times after hitting lows, but overall it remains in a descending channel.

In terms of technical indicators in the 4-hour timeframe, the MACD continues to stay below the zero line, with both DIF and DEA being negative, indicating a clear bearish market characteristic. The RSI hovering around 30 suggests a potential technical rebound in the short term. The current price is below EMA7, EMA30, and EMA120, indicating a downward trend in the short, medium, and long term. The distance between EMA7 and EMA30 is gradually narrowing, which may form a death cross.

Summary: Currently, market sentiment is strongly cautious, leading to a sideways market. During this time, operations can be flexible; as long as proper precautions are taken, there is room for self-management.

Li Ying's Latest Point of Reference Today (Sideways)

Long Entry Point: 2300, Add Position Point: 2250, Stop Loss Point: 2220, Target: 2400

Short Entry Point: 2450, Add Position Point: 2500, Stop Loss Point: 2550, Target: 2350

Reason: In a wave market, go long at highs and short at lows.

The above is a brief analysis by Li Ying regarding the current market situation for investors' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Li Ying feels a responsibility to share her insights, hoping to assist others with dreams in finding their place in this ever-changing market and embarking on their own successful journey.

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