Trend, Position Control, and Selection - The Trilogy of Success!!!

Ethereum quickly saw a wave of bulls in the morning, once again refreshing the short-term high, but unfortunately the space is limited and unable to increase volume and continue, so it is under pressure to retrace. Currently, it also presents a double-needle top pattern.

On the four-hour chart, after the weekend's oscillation and consolidation, the various moving averages have broken free from the adhesive state. The five-day moving average has turned upwards, and the other moving averages are also in a divergent state, providing multiple supports. The Bollinger Bands are showing signs of contraction. The morning's up and down needles have caused both bulls and bears to quickly release volume. The overall trend is bullish, but ultimately it oscillates near the high, only to see a short-term small retracement. The Bollinger Bands show signs of contraction, with resistance at the upper rail of 3500, support at the middle rail of 3422, and this position is also the 0.33 Fibonacci level. This can be used as a temporary reference price during the day.

After the one-hour chart showed the "Tian Di Zhen" (Heaven and Earth Needle), the market once again moved upward, but was affected by resistance. The upper shadow line was not successfully repaired, and the five-day moving average and the ten-day moving average formed a death cross, gradually testing downwards. The middle rail obviously cannot withstand the retracement, and the lower rail is also imminent. After the formation of the moving average death cross, the MACD is also below the 0 axis, and the green volume column is gradually increasing, indicating the need for another retracement.

Today's strategy: After the "Tian Di Zhen," double-needle top, watch for retracement. Defend short positions at 3495-3515 for Ethereum, and look for support at 3420-3400 below. If it does not directly break the support with a single bearish candle, you can appropriately enter long positions. In the event of a sudden change in the market, we will make intraday adjustments.

Due to the impact of the review time, for subsequent intraday adjustments, real-time offline strategies are the main focus. The suggestions are for reference only. Follow my lead, make a profit, and you can too!!! Through wind and rain, Wolong awaits you.

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