August 27th Shorting Opportunity: Look for Shorting Opportunities Below $2700 for Ethereum
ETH/Daily Chart
On the daily chart for Ethereum, it continued to close lower yesterday, with the K-line showing a bearish arrangement below, indicating the maintenance of a weak downward trend. It is not advisable to guess the bottom, as it belongs to a weak decline. However, it does not provide a stable rebound for shorting. One can either wait and watch, or be bold and aggressive and directly enter the market for the decline. Although there is some retracement at this time, a stable approach would be to wait for tonight's rebound point before attempting to short. Considering the key resistance at the upper rail of the weekly chart at around $2800, this resistance is crucial for this week.
ETH/4H Chart
On the 4-hour chart for Ethereum, it temporarily fell below the high point of $2700 today, with an overall weak rebound. The indicator on the chart shows an upward trend, and there will be a small rebound in the short term. It is important to pay attention to the range between $2700 and $2670 tonight. If there is a weak correction within this range, there is a probability of further decline tonight, with focus on the oscillation area near $2600.
Strategy 1: It is recommended to go short with a light position at $2700~$2670, with a stop loss at $2740, and a target around $2630~$2600.
The above is a personal suggestion and is for reference only. Investment involves risks, and trading should be cautious.
There may be a delay in publishing, and the market is constantly changing. The mentioned points in the article do not serve as a basis for following orders. For more information on the market and strategies, refer to real-time strategies for shorting opportunities.
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This article is an original creation by Wave Shorting, with over ten years of investment experience, having handled funds at the level of tens of millions, familiar with the operation of main funds, and skilled in the techniques of washing, absorbing, and raising funds. It can achieve unity of knowledge and action in fund management, position control, investment portfolio, and investment mentality. It is proficient in judging and analyzing the overall market trend, and has a deep understanding of various candlestick technical tactics, wave theory, form theory, and indicator theory. Scan and follow the VX official account above for learning technical market trends and exchanges.
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