Cryptocurrency Scholar: After the high-level pullback of Ethereum on April 19, where are the opportunities? The K line structure tells you who is stronger, long or short! Latest market analysis and trading suggestions
The current price of Ethereum is 2353, having dropped from 2463 back to 2353. Many crypto friends were already confused when they found me after the drop! Those who bought high are stuck, and short sellers are afraid it will rise again, getting hit from both sides. In the current market, don’t let temporary rises and falls cloud your judgment. Always use stop-loss in contract trading; don’t hold onto losing positions, as it will only make you sink deeper. The market is always right; the only wrong is our operations. Keep a steady rhythm, manage risks well, and you can steadily profit in the cryptocurrency space and go further.
The daily K-line has closed as a bearish line with a long upper shadow, with the price retracting from the upper Bollinger Band. Although the Bollinger Band's opening has not contracted, the pace of increase is clearly slowing down. The MACD red bar continues to shorten, and the difference between DIF and DEA is narrowing, indicating a gradual decline in upward momentum. The moving average system is still arranged upward, and the EMA60 line at 2222 forms strong support. As long as this level is not broken, the upward trend will not be destroyed.
The four-hour chart shows the formation of a double top prototype, currently breaking below the EMA15 line and oscillating near the EMA30 line, with clear pressure from the upper Bollinger Band. The MACD indicator has formed a dead cross, with green bars beginning to increase, favoring short-term downward momentum. If the support near the Bollinger Band middle line at 2365 is lost, it may further retrace to the 2290 level. The current trend is a corrective pullback after an increase, and caution is needed for the risk of a deeper pullback before a clear reversal signal appears. We will operate according to a consolidation mindset for now.
Short-term reference: (Practical data has been updated; please consult the author for details)
For a move from 2280 to 2320 upwards, with a stop-loss at 2250, target at 2370 to 2400; if broken, look toward 2430
For a move from 2370 to 2400 downwards, with a stop-loss at 2435, target at 2310 to 2280; if broken, look toward 2240
Specific operations should be based on real-time market data; for more information, please consult the author. There may be a delay in article publication; suggestions are for reference only, and risks are borne by the individual
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