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Crypto Scholar: December 6, 2024 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 3820. It is now 4:38 AM Beijing time. Bitcoin has just finished its session, and Ethereum has already dropped below 3800. Our target of 3520 has finally retraced and broken below the neckline at 3915. We exit and take profit on half, while continuing to hold the rest. The main force has taken profits, resulting in a double kill for both long and short positions. How many people have made a beautiful comeback like me during this bull run? Review the historical notes; you can refer to my thoughts. As long as the larger trend remains unchanged, all retracements are traps for shorts and opportunities. This statement is always valid because we do not trade against the trend. Right now, at this moment, is our latest entry point at 3800.

Looking at the daily candlestick chart, the highest is 3958 and the lowest is 3767. The EMA15 trend support is still stretching, currently at 3560. The bullish trend has not ended, and MACD is increasing in volume. The DIF and DEA are expanding at high levels, and the upper pressure level of the Bollinger Bands is at 3930, with the middle support at 3450. The overall trend shows a bullish market entering overbought territory, with the main force clearly taking profits, leading to a downward retracement. Following the trend, if the retracement support is effective, we can continue to enter. Pay attention to the trend support points in the range of 3630 to 3660; do not enter before reaching these points. Preserving your holdings is more important than profits.

The four-hour candlestick chart shows three consecutive bearish candles breaking the key support at 3830, reaching the EMA15 trend standing point at 3790. Pay attention to the EMA60 key support point at 3635. MACD volume is decreasing, and the DIF and DEA are contracting downwards at high levels. The Bollinger Bands are expanding, and the bullish trend remains unchanged. The candlestick chart is retracing in the short term, with the middle support point at 3730. The KDJ shows a clear downward retracement trend in the short term. Do not chase shorts; the trend is primarily bullish. Trade with the trend and take long positions during the retracement.

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

For aggressive traders, you can place short orders at 4000 to 4030 with a stop-loss of 30 points and a target of 50 to 100 points. In a larger bullish trend, do not hold short positions for too long; exit early at the neckline.

Pay attention to the key support levels at 3600 to 3650, with a defense at 3550 and a stop-loss of 50 points. The target is set at 6700 to 3800, and if broken, look at 3900 to 4000.

Specific operations should be based on real-time market data. For more information, you can consult the author. The publication of this article may be delayed; it is suggested 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 viewpoint. 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 viewpoints 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 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 by heaven, goodness by earth, sincerity by humanity, trust by commerce, precision by industry, and heart by art. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The Crypto Scholar wishes you happy investing!

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