April 8th, Tianxia Community: ETH daily chart enters a triangle contraction with low points rising!

CN
1 year ago

4/8/Community: ETH Daily Chart Enters Triangle Contraction and Rises from Low Points!

Live broadcast shares various mainstream technical indicator application methods, as well as daily technical analysis;

[ETH/Daily Chart]

ETH/Daily Chart Technical Trend Analysis: Ethereum received support at 3050 until March 19, and its subsequent trend

appears to have entered a triangular consolidation contraction pattern [continuation]. In the short term, two important resistances

are at 3450 and 3700; two important supports are at 3200 and 3050. During the consolidation process, the horizontal resistance

at 3700 and the support raised from 3050 to 3200 belong to a potential ascending triangle pattern. It can be concluded that as long

as the price remains above 3200, it will test the first resistance at 3700. After an effective breakthrough, the momentum will target

4000-4100. The overall strategy suggests entering long positions on dips above 3200!

[ETH/4H Chart]

ETH/4H Chart Technical Trend Analysis: After effectively testing the support at 3200 for the second time on April 3 and 5, the price

slightly oscillated and rose to 3450-3460, forming a small double bottom structure within the box. The current price has already

broken through the neckline at 3350 of the double bottom. Pay attention to avoiding long positions above this level!

[ETH/4H Chart Contract Market Long/Short Data; Updated daily at 12:00 PM]

ETH/4H Contract Market Long/Short Data Tracking:

1. Large position long/short ratio:

Short position volume ratio from 8:00 AM to 12:00 PM:

Short position volume ratio: 32.31%;

Long position volume ratio: 67.69%;

Long/short position volume ratio: 2.1

2. Long/short position number ratio:

Short position number ratio from 8:00 AM to 12:00 PM:

Short position number ratio: 25.56%;

Long position number ratio: 74.44%

Long/short position number ratio: 2.91

Today's viewpoint tracking: As of noon on April 8, the long position volume in the Ethereum 4-hour contract market is significantly

greater than the short position volume, and the number of long position holders is significantly greater than the number of short position

holders. Based on the above data, we can conclude that the current Ethereum price is more favorable for long positions and long position

holders than for short positions and short position holders. Therefore, as long as 3200 is not effectively broken and 3160 is not effectively

stopped out, boldly hold long positions with targets at 3500-3600. In the event of unexpected market conditions, the teacher will promptly

notify the group and adjust the strategy!

For more details, please feel free to join the live broadcast for discussion and learning!

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