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I am a warrior who has always been protecting the "leeks" in the currency circle. I wish my fans to achieve financial freedom in 2024. Let's go together!

Currency Circle Academician: Ethereum (ETH) Latest Market Analysis as of May 20, 2024

In the previous article, I mentioned that after the main force stretched to above 3100, there would be a pullback. The reason is simple, just like eating, after being full, take a rest, then digest. The pullback should at least reach around 3050, so the pullback is the process of digestion. Therefore, I have been emphasizing not to chase long positions above 6130, not to chase long positions, wait for opportunities, learn to stay empty and wait for opportunities, and not to overdraw trading.

Looking at the market, it is now past two in the morning, and Ethereum is currently around 3070, with the daily K-line high point near 3140. By now, the lowest point has already fallen below 3060, just as predicted in the previous article: a pullback, digestion, and then stretching to break the previous high. This is the conscience of the market's development. The K-line has been blocked by the EMA60 trend indicator at 3130 for two consecutive days, starting to pull back. The EMA15 support point to watch is around 3035, and the MACD volume continues to increase. The DIF and DEA are spreading upwards from a low position, and the trend remains bullish. The KDJ is blocked at 3130 and starting to fall back. After the Bollinger Band contracts, the K-line is blocked at the upper resistance level and pulls back. Pay attention to the support point near 3115 below, and a short position wave has appeared in the train of thought, defending 2860.

The four-hour K-line has been continuously rising in waves and was blocked after reaching 3140, starting to fall back to the EMA trend indicator. Currently, it is standing near the EMA150 support at around 3060. The overall trend of the EMA is in an alternating upward phase. It is expected that after the K-line pulls back, it will stretch again. However, after the MACD fell below the 3120 support of the ascending triangle, it started to decline. The DIF and DEA also formed a dead cross downward, and the KDJ downward spread has not ended. In addition, the support at 3070 in the middle of the Bollinger Band has already been broken once. Therefore, it is necessary to wait for a clear signal after testing below 3060 before entering the market. Wait for opportunities and see if the four-hour K-line will retest the lowest point of the EMA trend indicator, which is around 3030.

The specific operational train of thought is as follows:

For long positions, pay attention to the 3030 to 3050 range to start layout, defend the 2980 to 2970 range to add long positions, stop loss at 2940, and the exit target is around 3120 to 3140. If the position is broken, continue to look at the trend exchange point of 3220 to 3250 and exit.

For short positions, the entry point is around 3130 to 3150 without breaking, stop loss a little closer to 3180, and exit with a small loss if the previous high is broken. The short-term layout exit target is around 3070 to 3050. If the position is broken, look at the area near the 3000 integer mark. According to the previous trend, the main force will repeatedly grind near the 3000 mark, so you can exit and wait for opportunities at this point.

The specific operation should be based on real-time market data. For more information, please consult the author. The article is published with a delay, and it is recommended for reference only. The risk is self-borne.

This article is exclusively provided by the Currency Circle Academician and represents the exclusive views of the academician. Due to the timing of the article's release, the above views and suggestions are not real-time and are for reference only. The risk is self-borne. Please indicate the source when reposting. Control your position reasonably when trading, and do not overweight or fully invest. The academician also hopes that investors understand that the market is always right. If you are wrong, you should summarize where your own problems are, and do not let the profits that should be in your hands fly away. There is no need to be smarter than the market in investment. When the trend comes, follow it; when there is no trend, observe and be calm. Wait for the trend to become clear before taking action. Tomorrow's success comes from today's choices. Heaven rewards hard work, earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards heart. Gains and losses are all in the blink of an eye. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Currency Circle Academician wishes you a pleasant investment!

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