1.14 Ethereum oversold rebound, bulls return? Latest short-term strategy update

CN
21 hours ago

Those who can buy are apprentices, those who can sell are masters, and those who understand holding cash are the ancestors! In trend swing strategies, the choice of buying points is secondary, while selling points are key; however, good capital management is the soul of trend swing trading.

Yesterday, the market experienced a sharp rebound, with a pin bar formed. I anticipated a pin, but the 2800 pin position was too low, and the market pierced the pin at 2900 for a pullback. Currently, there is still a probability of a double dip, so let's focus on the short-term intraday for now. The daily level candlestick has rebounded from an oversold position back to the Bollinger Bands, and it has also returned above the EMA200. The next short-term focus is whether the MA7 can break through and stabilize, followed by the middle band. On the 4H level, the small boundary above is near the middle band and MA30, followed by MA60 and EMA200. If these two positions can break through and stabilize, the bulls can reverse.

For short-term support below, we will take 3000 as the boundary. I estimate that today's market will be volatile, waiting for tomorrow's CPI data. Although there are heavy resistances above, I personally lean towards pulling back to buy in the short term.

1.14 Short-term suggestion: If 3030 does not break, buy at 3080-3050, looking for 80-150 points.

The above suggestions are for reference only; please manage your risk well.

Wishing you successful trading!

Alright, friends, we will say goodbye until next time. I wish everyone continued success and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions from Big Coin, find Gege.

Written by: I am Trader Gege, a friend willing to accompany you in making a comeback.

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