The essence of trading is survival, followed by profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your principal is safe. You need to develop your own trading mindset, continuously optimize and improve it. The advice of the cryptocurrency academician may not make you rich overnight, but it can ensure that you always have support. Only those who survive in the cryptocurrency market in the long term and persist until the end can achieve the results they desire. I hope you can understand.

I am a warrior who has always been protecting retail investors in the cryptocurrency market. I wish my fans to achieve financial freedom in 2024. Let's work together!

Cryptocurrency Academician: Ethereum (ETH) Latest Market Analysis Reference for July 23, 2024

Reviewing yesterday's Ethereum strategy, short at 3530, finally closed at 3450, capturing an 80-point space. The highest and lowest points on the daily K-line before the article was published were around 3565 and 3435, respectively. Judging from the continuous resistance around 3550 in the past few days, as long as the upper resistance level is not broken, you can continue to lay out short positions. Although the long-term trend is currently bullish, the weekly chart shows consolidation after being blocked by the resistance level, which is beneficial for both long and short positions. Currently, the daily K-line has been consolidating above for five consecutive days, and a pullback to the EMA trend indicator is inevitable. Pay attention to the support near the EMA top at 3380. The KDJ is diverging and contracting downwards, and after the Bollinger Bands opened, the K-line has been unable to reach the upper band, indicating that there is not enough downward momentum from the support below in the short term. A pullback is expected, with attention to the mid-band support at 3250. The MACD volume momentum has decreased, and the DIF and DEA continue to diverge. It is expected that the divergence will end after a pullback to around 3350.

The four-hour K-line is currently in an ascending flag pattern, and the third wave has passed. There is strong resistance in the short-term trend, so you can start to short in the spot market. After all, the EMA trend indicator's fast and slow lines are beginning to show a contracting trend, indicating that the bears have some momentum. The KDJ has been contracting downwards, and after the Bollinger Bands contracted, the distance between long and short positions narrowed. The upper resistance level is at 3535, and the lower support is still around 3465. The MACD divergence at the top has lasted for a long time, and the DIF and DEA have been continuously diverging downwards in an attempt to end the divergence. It remains to be seen whether the support near 3300 will be tested this week. The strategy is to short at resistance levels and long at support levels, and be flexible with stop-loss orders on both sides.

Short-term strategy reference:

Short at 3530 to 3550, with a 30-point stop loss. The target is 3450 to 3400, and if broken, look at around 3350.

Pay attention to the long position between 3330 and 3300, with a backup long position between 3250 and 3230. The stop loss is 30 points, and the exit target is around 3400, with a second target around 3450 to 3500.

Specific operations should be based on real-time market data. For more information, please consult the author. The article is published with a delay and is recommended for reference only. Trade at your own risk.

This article is exclusively provided by the Cryptocurrency Academician and represents the academician's exclusive viewpoint. The viewpoints and suggestions for BTC, ETH, DOGE, DOT, FIL, EOS, and others are based on in-depth research. Due to the timing of article publication, the above viewpoints and suggestions are not real-time and are for reference only. Trade at your own risk. Please indicate the source when reposting. Control your positions reasonably and avoid heavy or full positions. The academician also hopes that investors understand that the market is always right. If you make a mistake, you should reflect on your own problems and not let the potential profit slip away. There is no need to be smarter than the market in investing. When the trend comes, follow it; when there is no trend, observe and wait. It's not too late to act after the trend becomes clear. Tomorrow's success comes from today's choices. The universe rewards hard work, the earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards passion. Gains and losses are both unexpected. Develop the habit of strictly setting stop-loss and take-profit levels for each trade. The Cryptocurrency Academician wishes you a pleasant investment experience!

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