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 form 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 persist. Only those who survive in the crypto space for the long term and stick it out until the end can achieve the results they desire. I hope you understand.

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: 2024.10.9 Ethereum (ETH) Latest Market Analysis Reference

Ethereum's trend is slightly stronger than Bitcoin's, remaining stable and consistently above the support point of 2400. Therefore, long positions can continue to be held, targeting the previous high. Although Ethereum reached a high of 2480 yesterday, it is clear that this wave of selling pressure has not yet ended. After the selling pressure concludes, a new round of upward correction is likely to appear. However, one point to note is that after each extreme contraction, a one-sided market will emerge. At this time, when making long positions, you need to be defensive; if it breaks the support, go short, but if it doesn't break, you can continue to hold.

Looking at the market, it is now a little past 4 PM Beijing time, and Ethereum's current price is 2440. The daily K-line has been testing the EMA15 and EMA30 convergence point. After breaking through previously, it will continue to break through. Once pressure turns into support, you can continue to hold and let profits run. If it does not break through, it will continue to retrace to the support point, so be prepared. The MACD is still shrinking and accumulating, with DIF and DEA also contracting, indicating limited space below. Long positions can continue to be held. The Bollinger Bands indicate a key resistance level at 2530. As long as it tests the top again without breaking 2530, you can consider shorting. For now, maintain a long position as the main strategy, with KDJ still in a bullish trend.

The four-hour K-line shows clear contraction. Last night, it tested the EMA60 resistance level at 2465, and now there is continued selling pressure, retracing to the support point EMA15, which is the balance point at 2430. The current dense range is between 2400 and 2440, so if the support holds, you can try long positions, with a stop loss set about twenty points below 2400. The MACD has contracted to the extreme, with both bulls and bears competing for highs and lows. The Bollinger Bands are also contracting, so pay attention to the lower support point at 2400, with the mid-band pressure not strong, referencing the upper band resistance at 2485. The strategy is to maintain a long position as long as the support holds, and not to short for now, waiting for the key resistance level to arrive before considering shorts.

Short-term reference: Safety first. Remember that the market is never 100% certain, so always set stop losses. Safety first, small losses for big gains is the goal.

Buy in the range of 2410 to 2420, targeting 2470 to 2500, with a breakout target of 2550 and a stop loss of 50 points.

Sell in the range of 2550 to 2600, with a stop loss at 2650 for additional shorts, targeting 2450 to 2400, with a breakout target of 2350 and a stop loss of 50 points.

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, and the suggestions are for reference only, with risks borne by the reader.

This article is exclusively contributed by the Crypto Circle Academician and represents the academicians' unique views. 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, with risks borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The academicians also hope 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 comes, respond and follow 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. Hard work is rewarded, integrity is valued, trust is essential, precision is crucial, and passion is key. 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!

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