12.21 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
Yesterday, after Lihui's short position target hit 3260 for profit taking, I entered a long position according to the article's points. Unexpectedly, the 3200 level was lost again, and the market fell all the way to 3100. Fortunately, the position was not heavy, and I captured the double bottom signal on the 1-hour chart, decisively adding to the position and pulling the average price down to below 3155. You can also see my updates in the Pionex friend circle regarding the long signal. As Lihui predicted, the market reversed to 3330-3380, and I have been taking profits in batches while holding. After waiting all night, the market once again moved upward, breaking through yesterday's opening high and approaching 3500. Therefore, there is no rush to exit the low long positions; I can continue to add to the position on a pullback. The double bottom signal on the 1-hour chart has perfectly formed, providing a rebound space of 400 points. Indeed, the way down is the way up. Currently, the Bollinger Bands on the 1-hour chart are narrowing, and the K-line is rising at the middle track, but the upper track has not yet shown a bullish signal, and the upper track is under pressure from EMA60 and MA60. The MACD above the 0 axis is reducing in volume, but it is not very strong, and the fast and slow lines have not provided much contraction space, indicating a relatively strong bullish performance.
On the 4-hour chart, the Bollinger Bands are also narrowing upwards, and it is clear that the K-line has just formed a double bottom reversal, touching the MA450 position before rising. To be honest, during yesterday's rapid decline, many people were in great panic, seeing the target at 2900, but Lihui did not think so. It was also mentioned that the 3100 level is an important barrier, which can be seen from the straight pressure support in the chart. Additionally, it was mentioned in yesterday's article that the opportunity for low longs would wait until the 4-hour fast and slow lines began to converge; everyone can review and summarize based on the timing! Currently, the K-line has just retreated to the support area between EMA7 and EMA10, and is stabilizing. However, the downward formation of the middle and upper tracks has not yet shown a reversal, so the bearish trend still exists. In the short term, one can look at the EMA220 and MA220 area for light shorts. However, as the weekend approaches, the market may not move too much, and everyone needs to be patient for opportunities.
On the daily K-line chart, the upper track of the Bollinger Bands is rising above 4109. Yesterday, the daily K-line formed a long lower shadow, and after the K-line pierced down, it closed above 3470, finally managing to close positively! The bulls see hope again. Therefore, the current daily K-line pressure is EMA30, which is still continuing downward and may form strong pressure again with the 4-hour EMA220. The two supports to watch below are EMA60 and the overlapping position of EMA80 and MA60. In summary, Lihui believes that the bullish trend continues to exist, and long positions below 3230 can be held after reducing the position. Since the 4-hour convergence pattern has already formed, the strategy can focus on entering low longs.
At 9:52 AM Beijing time on December 21, the editor suggests lightly going long in the 3390-3375 range; reserve for adding positions at 3280-3260; stop loss below 3250; target at 3450-3520-3580;
It is suggested to lightly short in the 3560-3580 range, with a stop loss at 3630; target 60-100 points; specific operations can be consulted with Lihui based on real-time changes!
The article review and push have delays, 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; enter with proper take profit and stop loss, and take profits when favorable!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. For those who are not familiar with trading, feel free to comment and leave messages!
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This article is exclusively published by (WeChat public 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. Just as "the road 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 strengths and avoid weaknesses, create value, and remember the market's baptism, 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 work hand in hand to create brilliance in this investment journey full of challenges and opportunities!
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