Established trend, position control, and selection of positions are the three key steps to success!!!!!!

This weekend was stable and unremarkable, with further compression of the fluctuation space. The price of Ethereum fluctuated by less than ten points, making it unexciting and uninteresting. There were no signs of breakthroughs on Sunday evening and Monday morning, and the narrow range from the weekend continued.

The morning market quickly rebounded today, directly breaking through the narrow range of the weekend and approaching the strong resistance level above. What's particularly eye-catching is that this rebound was accompanied by increased trading volume, which matched the upward movement. During the day, it will be important to see if it can stabilize above 1840. If it can, the resistance level will be tested multiple times.

On the technical side, the Bollinger Bands on the four-hour chart did not expand as the market rose, remaining in a contracted state. A large bullish candle directly supported the Bollinger Bands, and it remains to be seen whether it can break through. At least we need to wait until the four-hour chart changes to assess the pattern. There are slight signs of a turnaround in various moving averages, but unfortunately, a golden cross has not formed, and there has been no continuous breakthrough. The market is still unable to escape the consolidation and oscillation. The concentration of chips in the upper area is also insufficient, so we can only wait to see the direction in the future.

Although the smaller time frames indicate a bullish trend, the continuity is slightly lacking. Currently, it is supported by the five-day moving average and is moving upward. The strong resistance level at 1853 in the upper triangle area is evident, and the rally has not reached a critical point. It is likely to retrace a bit, providing an opportunity to absorb and accumulate energy. Attention should be paid to the support situation at the 1838 moving average below.

The overall direction does not currently present a direct breakthrough opportunity, and there is no news or data to act as a catalyst. Overall, it is still advisable to focus on short-term trading and be prepared to defend.

Daytime operation suggestion: Ethereum is still long at 1828, with support around 1853. As long as there is no strong breakthrough with a bullish candle, it is appropriate to enter short positions. We will make an intraday adjustment based on the market situation later in the evening.

Due to the impact of the review process, for subsequent intraday adjustments, it is recommended to primarily follow real-time strategies in the live trading group. This article is for reference only. Rain or shine, the dragon awaits you!!!

Official Account: Zhuge Talks Coins

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