Ethereum touches the monthly line upper rail丨Pay attention to the suppression of BTC at 42,000丨Be cautious about chasing longs

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On the 4-hour chart, after the market rebounded near 2077, it was pressured to fall back to the 1.382 Fibonacci retracement level yesterday, and did not break through the 1.13 false breakthrough position. After a day of oscillating and washing the plate, it started an upward trend again in the early morning. It just rose to the 1.618 Fibonacci retracement level and was suppressed and pulled back. Long Road previously mentioned that if the pullback near 2077 does not break through, there is a chance for further rebound. The recent market trends have all shown white-plate oscillations. The trend of the rebound in the early morning, combined with BTC already rebounding above the 40,000 mark, if it can stand firm, it is very likely to go for a retest of the 0.5 Fibonacci retracement level after the rebound, which is around 42,000. So Ethereum has just hit the upper rail of the monthly line, and there will be some pressure from the upper rail of the monthly line. However, it is not ruled out that BTC may lead to a situation where it breaks through. Today, we are focusing on the breakthrough at 2230. If it does not break through, a defensive short position can be taken with a good stop-loss. On the downside, pay attention to the support near 2200-2192. If there is another oscillation and absorption of chips, then we need to pay attention to the market trend after the early morning. The recent fluctuations have been relatively large, so when operating, be sure to set a good stop-loss to guard against unnecessary losses due to unexpected market changes.

Operational advice: Real-time strategies are provided

Reminder: The strategy is for reference only. When operating, set good stop-loss and take-profit targets, and implement partial profit-taking and trailing stop-loss to protect profits while avoiding excessive profit backtracking.

The cryptocurrency market is always in full swing. It is everyone's common wish to seize the opportunity and get a share of the pie. Please believe that "the only thing between you and financial freedom is a long road." I believe that with the guidance of Long Road, you will definitely achieve your cryptocurrency wealth dream faster and more steadily.

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