10.23 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
The market predictions over the past two weeks have been quite accurate, with both bullish and bearish trends perfectly anticipated. Everyone can pay attention to Lihui's layout of the 19th Bitcoin short at 69100 and the Ethereum short at 2770 on the 21st. Lihui has been warning in last week's article to be cautious of selling pressure and to avoid chasing highs, and indeed, Bitcoin has started to decline significantly, having dropped over 3500 points so far; although Ethereum only began its substantial drop yesterday, it has never been absent from the downturn, and the bearish targets mentioned in the past two days' articles have been hit accurately!
Yesterday's Ethereum article mentioned the daily high point resistance. Considering that the ETF net outflow has not yet ended, a short position was decisively given, and the market moved as expected, continuing to break below the daily EMA30 and directly below the daily lower band and MA60; however, the current Bollinger Bands are still in a contracting state, with the lower band not showing a strong reversal yet, indicating a slowing upward movement. The MACD continues to accumulate above the 0 axis, approaching the 0 axis position, and the DIF and DEA are forming a strong convergence that is likely to create a death cross, which should not be a problem; we just need to see if a reversal can form at the 0 axis position.
The 4-hour Bollinger Bands are opening, but the upper band is not moving down, indicating that there is still space above. If the coin price can rebound to the middle band, opening a short position might be ideal; currently, the middle band has dropped below 2600, so the short position may also need to be adjusted downward. Therefore, we need to consider whether the 2400 level can hold for a long position.
In summary, Lihui believes that the bearish trend will continue to spread, and there is a need for a pullback. Trading in the coming days should be cautious, considering the turbulent international situation and the U.S. elections; everyone should avoid blindly chasing highs and cutting losses, and wait for the market to stabilize before entering.
Lihui suggests shorting in the 2560-2590 range, with a stop loss at 2630 and targets at 2510-2460-2420; if it breaks below the 2410-2380 range, you can continue to hold!
It is recommended to try a light long position in the 2410-2380 range if it does not break, with a stop loss at 2350 and targets at 2470-2530-2570.
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and the article's suggested points are for reference only. Please do not operate with heavy positions; when entering, ensure to set take profit and stop loss levels, and take profits when favorable!
I, Lihui, interpret global economic news and analyze major trends in the cryptocurrency world. During my studies in the U.S., I have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are unsure about trading!
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This article is exclusively published by (WeChat Official Account: Zhang Lihui) for reference only, and the risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. As the saying goes, "The road ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's trials, staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and together compose a brilliant future, sharing the joy of success. Let us join hands and move forward together on this investment journey filled with challenges and opportunities, creating brilliance together!
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