Ten years to sharpen a sword, there are reasons for the rise and fall; Bulls and bears do not love war, it is safe to put it in the bag.
Hello everyone, I am Tommy, a crypto economist, a trader rooted in the currency circle, and have been studying Ethereum (ETH) for 6 years. First, let me talk about the three things I don't do in my trading: don't trade when tired, sleepy, or exhausted; don't trade when in a bad mood; don't trade when unable to understand the market trends. (In a bad state, one cannot perform at a normal level, leading to significant errors in market judgment.)
Follow the public account: K-line Life Tommy: Opportunities are created in different time periods every day, there is no need to rush, the original intention has never changed. While creating profits, focus on risk control professionally, making investments valuable and long-lasting, not letting down the encounters and trust in the past. I am available 24 hours a day for real-time guidance. Feel free to leave a message if you have any questions. All strategies are openly and freely available.
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Review: From yesterday morning, Ethereum accelerated to a high of 1658. The market remained in a sideways shock during the day, and there was another accelerated fluctuation in the afternoon, dropping to around 1615 at the lowest point. This once again confirms that the current market is beginning to intensify its fluctuations. Furthermore, there is repeated shock absorption at the 1620 level (Figure 1), forming a triple bottom pattern at the low level on the daily chart (Figure 2). Therefore, the bottom has been solidly absorbed through repeated shocks, and the trading volume here is not very active. The market is accumulating strength for a new round of upward movement. As we often mention, "how long the sideways and how high the upward," once the price breaks through the neckline shown in the figure at 1660 (Figure 3), we can boldly follow up.
On the daily chart, there has been no breakthrough of the previous platform level of 1680-1700, and it requires volume support. If these two conditions are not met, the short-term trend is still expected to see a second round of retracement.
Operationally, it is necessary to repeatedly observe whether there is a volume breakthrough at 1650-1665. If there is a high and then a fall, enter the short position. If there is a volume breakthrough, continue to look upwards to 1720-1750.
Bitcoin's support at 25800 mentioned yesterday has been broken, and it continues to look at the next support level around 25500-25000. The medium-term trend has broken through the previous platform level, and the short position is still in a strong retracement.
MKR also faces the key resistance level of 1178-1570. If 1178 is stabilized and broken through, the short-term bullish trend will continue to rise. However, it is important to note that the focus is still on the movements of ETH and BTC. If BTC and ETH gain momentum, they will once again break through the upward pressure.
On the contrary, if the daily chart quickly falls back after entering the bullish area, it will still face a second round of retracement and bottoming.
The new investment plan for September is still ongoing. For real-time guidance, please follow the public account at the end of the article.
The public record only counts the returns of ETH, which can be checked online. Real-time guidance is the main source of actual trading data. For details, follow the public account to learn more.
Mainly targeting spot, contracts, BTC/ETH/ETC
Expertise: Candlestick trading
Original trading strategy based on trading volume.
Short-term wave high and low, medium and long-term trend trading, daily extreme retracement, weekly K-line top prediction, monthly line top prediction
Public account QR code
Friendly reminder: Only the WeChat public account at the end of the article is created by the author himself!
Please be cautious in distinguishing between true and false. Thank you for reading!
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