Zhang Lihui, edited at 0:58 AM Beijing time on May 11: Ethereum Market Analysis and Trading Suggestions:
The current situation for Bitcoin and Ethereum is quite clear. Bitcoin is in a high-level consolidation phase, and in the short term, it’s not advisable to chase long positions at these high levels, as the price is already quite elevated, making spot costs unprofitable! Ethereum, on the other hand, is in a phase of catching up. The recent pullback range has been quite small, which everyone can see. This is a change from the previous trend of only following declines without any increases. The larger trend still requires attention to the weekly chart, as mentioned by Lihui. In the previous article, it was also noted that if the daily EMA120 and the 2250 range break again, we can continue to look towards the MA120 and EMA180 positions. Lihui has already arranged to reduce positions and take profits above this level, leaving a base position to continue holding. Currently, the K-line is rebounding again, approaching yesterday's high EMA220 position, which is also a re-challenge of the previous high. If it breaks, the next level to consider could be above the EMA300 position, around 2600, and further up are the MA220, MA300, and MA180 three-line positions.
Since the bulls have already started, pulling back to go long is the best choice. One can consider the overlapping range of the middle and lower bands of the 1-hour chart with EMA30 as a good entry opportunity. The fast and slow lines are showing a golden cross opening upwards, and the volume above the zero line is also continuing to increase, indicating that the bullish trend is likely to continue!
The 4-hour Bollinger Bands are also continuing to close upwards, with the middle band constantly rising and approaching the 2400 position, indicating that the bottom support is being raised. Therefore, it’s normal that everyone hasn’t been able to find low entry points recently. Of course, blindly chasing long positions is also inadvisable; one must wait for a pullback to enter, which will also increase the space and reduce risk! More importantly, set a good stop loss. Although the current Ethereum market is performing strongly, don’t forget to be cautious!
Today's suggested long entry point: Light long positions in the 2410-2380 range, with a stop loss at 2210 for additional longs, and a stop loss below 2200; targets are 2460-2530-2600. If it breaks 2610-2630, one can continue to hold until the MA220, MA300, and MA180 three-line positions.
For Ethereum short positions, it’s advisable to be conservative, as there is still a risk of catching up. It’s better to wait for the weekly chart to settle before considering! Specific trading opportunities can be consulted with Lihui at any time!
There may be delays in article review and push notifications; market conditions change rapidly, and specific entry opportunities must be combined with real-time operations. The suggested points in the article are for reference only; do not operate with heavy positions. Please ensure to set take profit and stop loss levels when entering, and take profits when available!
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. I welcome comments and messages from those who are unsure about trading!
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This article is exclusively published by (WeChat Official 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. As the saying goes, "The road ahead 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 your strengths and avoid weaknesses, create value, and remember the market's trials, 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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