Zhang Lihui, edited on May 7 at 19:37 Beijing time: Ethereum market analysis and trading suggestions:
Bitcoin broke through the 4-hour MA30 and MA60 resistance this morning, so the previously set short entry point is invalid. Instead, we wait to enter above the previous high near 97400, and we are currently holding a profitable position. Fans who have added Lihui can see real-time updates; I wonder if everyone has benefited. The stop loss is adjusted to just above the previous high as planned; if it breaks, we will take a small loss and not hold on. A rebound provides an opportunity for short entry, and the profit potential below is more considerable, making it relatively cost-effective! If a second peak is successfully reached, we will have a stop loss that won't be too far off! If it breaks, we can continue to adjust the opening price upwards.
Ethereum has also been under EMA300 resistance on the 4-hour chart and has not broken through. This position is also a good short entry point. If it breaks, we can still exit with a small loss. If it breaks above, it may reach the daily EMA60 position. A second short entry can also be considered at this position. The current position should not be opened simultaneously with Bitcoin, and chasing long positions is not recommended. If the Federal Reserve's interest rate benefits are completed in advance, then the current position is a high trap. The basic rule of trading is not to chase bullish trends!
Today's suggested short entry point: continue to lightly short above 1835, with the stop loss unchanged above the previous high, targeting 1770-1730. If it breaks 1720-1700, we can continue to hold! If a stop loss is triggered, we can continue to adjust to the opening price; chasing long positions is not recommended!
The article review and push have delays, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, based on real-time notifications. The suggested entry points in the article are for reference only; do not operate with heavy positions. Please set take profit and stop loss when entering, and take profits when available!
I, Lihui, interpret global economic news and analyze major trends in the cryptocurrency world. During my studies in the U.S., I conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. Friends who are unsure about trading are welcome to comment and leave messages!
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