Don't forget, the darkest moment is often just before dawn. On the road to chasing dreams, you are never alone; you still have me.

The first rule is to prefer missing out rather than making a mistake. The second is to never over-leverage in trading. The third is to learn to wait in cash for opportunities. The fourth is to protect your principal before thinking about profits. The fifth is to learn to review and summarize patterns. To put it simply: do not open a position unless it reaches the target, do not open a position unless it breaks through, do not open a position without seeing a signal, do not open a position if you cannot find a stop-loss point, do not open a position if the stop-loss point is too large, do not open a position unless it is a key point. You can manually take profits, but always ensure you have a stop-loss in place.

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

Crypto Scholar: November 9, 2024 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 2974. The market has been diverging upwards for several days. First, it broke the large descending triangle and reversed to break the previous high of 2820. Now it faces significant resistance at the descending flag pattern between 3630 and 3050. Regardless of whether it can break through, there is reason to start shorting as it reaches the trend-level resistance. As I always say, once you enter the trading range, do not hesitate. Execute according to the trading system: if you are right, hold; if you are wrong, cut losses. Remember, we are doing the right thing; do not let various distractions make you doubt your trading system.

The daily K-line reached a high of 2984 yesterday. After the market opened at eight this morning, it directly surged past yesterday's high to 2996. The EMA trend has started to contract, and the EMA15 has dropped below the 120 trend line at 2672. From the order book, the support at 2700 is unlikely to hold in the short term, and the support level will continue to stretch upwards. The MACD has been continuously increasing, and the upper Bollinger Band has lost support at 2934. The current price of the K-line is 2973, and the KDJ is encountering clear resistance at the 3000 mark, showing signs of fatigue.

The four-hour K-line has shown a bizarre bullish pattern with nine stars in alignment. The EMA15 trend support has come down to 2850. Pay close attention to the 30 trend support at 2750, as the MACD shows severe top divergence, with the DIF and DEA encountering significant resistance above. The upper Bollinger Band is now at 3100, and the middle band support is at 2800. This allows us to find entry and defense points for shorting above.

Short-term reference: Safety first. Remember, the market is never 100%, so always have a stop-loss in place. Safety first; small losses and big gains are the goal.

For shorts, target 3020 to 3050, with a defense at 3100 for adding to the short position, stop-loss at 50 points, and target 2950 to 2900, with a breakdown target of 2850 to 2800.

For longs, target 2750 to 2800, with a defense at 2700 for adding to the long position, stop-loss at 50 points, and target 2850 to 2900, with a breakdown target of 2950 to 3000.

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

This article is exclusively contributed by the Crypto Scholar and represents the scholar's unique perspective. 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 scholar also hopes that all investors understand that the market is always right. If you are wrong, you should summarize where the problem lies. Do not let 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. 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 managing stop-losses and take-profits for each trade. The Crypto Scholar wishes you happy investing!

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