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

Over the weekend, the overall market revolved around the 3930 level, with Sunday's rebound failing to break the previous high and continuing to probe lower. After a morning pullback near 3790 and a rebound near 3890, there was another round of probing down to the 3720 support level.

I mentioned on Friday that attention should be paid to the resistance at the 4000 level in this rebound, which is also the Fibonacci retracement level. As expected, Bitcoin touched 70000 and Ethereum failed to break through 4000, leading to a pullback. After the weekend's oscillating trend, there was another round of probing this morning. With Ethereum's upgrade just two days away, the manipulative operations of the institutions are very obvious.

Ethereum Market Analysis: On the weekly chart, the continuous rebound has formed 6 consecutive positive candles. The morning pullback near the 5-day moving average provided support for the rebound. From a technical perspective, the technical indicators are showing a downward trend. If a negative candle can be formed this week, it will end the 6 consecutive positive trend. This week is also the time for Ethereum's London upgrade. After last year's Shanghai upgrade, there was a pullback in the market, and a bullish trend turned bearish at the end of the positive news. Although this time there is support from the Bitcoin halving event, we also need to be cautious about such a situation. Everyone should be cautious about chasing long positions and consider going long on pullbacks, especially in the case of probing.

On the 4-hour chart, the market's probing down to near the 60-day moving average stopped the decline and rebounded, showing a bottoming trend. Breaking the support of the lower rail in the morning's probing, we can first look at the resistance near the Fibonacci retracement level of 3860, and if it can be broken smoothly, the market will have the opportunity to challenge the resistance near 3895. Looking at the 1-hour chart, the market's pullback has a tendency to stabilize. In today's operation, it is still recommended to focus on long positions on pullbacks, and consider short positions only if the upper resistance is broken. Stop-loss should be used when making trades.

Trading Suggestions: Real-time strategies are provided.

Due to the impact of the review time on the article, for subsequent intraday adjustments, real-time strategies are the main focus offline. The suggestions are for reference only. Follow my trades, make profits, and you can too!!! Rain or shine, Wolong is waiting for you.

WeChat Official Account: Zhuge Talks Coin

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。