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: 2024.10.11 Ethereum (ETH) Latest Market Analysis Reference

The long position idea from yesterday's article at 2330 has reached the target of 2400. This is not something to boast about because Ethereum has diverged from Bitcoin's trend this time, each moving in its own direction. At the beginning of August, when Bitcoin was at 53000, Ethereum was at 2400. Now, at the beginning of October, when Bitcoin is at 60000, Ethereum is at 2400. According to this trend, Ethereum has begun to gradually lose popularity, especially with the emergence of a selling wave. The outflow of Ethereum has always existed, and market confidence is insufficient. Fortunately, no matter how much Bitcoin drops, Ethereum has consistently stayed within this range without falling below.

Looking at the market, it is currently 4 PM Beijing time, and Ethereum's current price is 2410. The daily K-line has tested the bottom at 2300, and with yesterday's test at 2300, it has formed a double bottom pattern. In the short term, it may rebound to challenge the EMA15 resistance level at 2445. There is still strong resistance above. The MACD shows a decrease in volume and an increase in positions, with the DIF and DEA showing a contraction in energy indicators. After encountering resistance in the short term, it is very likely to rebound again. The strategy remains to short at the resistance level.

Looking at the four-hour K-line, it is currently facing resistance at the EMA30 trend resistance level of 2420. The strategy can start to lay out short positions, targeting the previous low. The MACD shows a decrease in volume and an increase in positions, facing strong overall pressure at the 0 axis. Additionally, the Bollinger Bands show resistance at 2415, which has not been surpassed. Therefore, the overall judgment is that the pressure is effective, and the defense can be set above 2450. Overall, the four-hour trend has pulled back to the pressure level, and if the pressure level is effective, short positions can be taken.

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

Short positions from 2420 to 2400, with defense from 2450 to 2470 for adding to short positions, stop-loss at 50 points, targeting 2350 to 2300, and if broken, looking at 2270.

Long positions from 2300 to 2330, with defense from 2230 to 2250 for adding to long positions, stop-loss at 30 points, targeting 2400 to 2450, and if broken, looking at 2500.

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 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 borne by the reader. 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 comes, 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. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and 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!

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