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Scholar in the cryptocurrency circle: December 16, 2024, Ethereum (ETH) latest market analysis reference.

The current price of Ethereum is 3900. It is now 4:10 AM Beijing time. The short position indeed cannot be held for too long; after hitting a low of 3820, it did not test the bottom again. The price pulled back and broke below 3880, so I had to reluctantly take profits with about 50 points of space. There are less than four hours left until the weekly close, and a long hammer candlestick has appeared. If it does not break 4000 before the close, then next week there will be many extreme market conditions. It is expected to be another wave of both long and short liquidations. The safest way is to wait for the bottom to enter long positions.

The daily K-line had a high of 3921 and a low of 3830. The EMA15 trend line has stretched to 3785, and the EMA30 has reached 3600. Apart from the MACD shrinking, the DIF and DEA are expanding at a high level. The Bollinger Bands are in an upward channel trend, with the upper band reaching 4100 and the middle band at 3760. There are two key entry points: the first is 3760, and the second is 3600. You can set alerts for these two positions.

On the four-hour K-line, the upward trend is blocked at 39000, and the EMA trend indicator is contracting. Overall support is pulling up, with the EMA120 at 3720. The MACD is continuously shrinking and accumulating, and the DIF and DEA are contracting. The market could form a golden cross at any time. Pay attention to the pressure at the previous high of 3930; if it breaks, it is likely to hit 4000. The extreme contraction of the Bollinger Bands indicates that the upper band should be watched at 3935, suggesting that this week's trend will become clearer. The KDJ is expanding upwards, and whether the main force will come again to induce a short squeeze while accumulating at the bottom, we can patiently wait. Focus on low long positions and be cautious with short positions for now.

Short-term reference: Safety first. Remember that the market is never 100% certain, so always set stop-losses. Safety first; small losses and big gains are the goal.

For the upper range of 3950 to 4000, short positions with a stop-loss at 4050, risking 50 points, targeting 3900 to 3850, and if broken, looking at 3800 to 3750.

For the lower range of 3750 to 3700, long positions with a stop-loss at 3650, risking 50 points, targeting 3800 to 3850, and if broken, looking at 3900 to 3950.

Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication, so the suggestions are for reference only, and risks are borne by the reader.

This article is exclusively contributed by the scholar in the cryptocurrency circle and represents the scholar's unique views. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions may not be real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The scholar also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies. Do not let the profits that should be yours slip away. There is no need to be smarter than the market. When a trend comes, respond to it; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success comes from today's choices. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards passion. Gains and losses often happen unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The scholar in the cryptocurrency circle wishes you happy investing!

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