Zhang Lihui, edited at 5:16 AM Beijing time on May 18: Ethereum Market Analysis and Trading Suggestions:
The short position from the day before was ultimately closed too early. The long-awaited breakdown for shorts has finally arrived, and it seems the main players are making moves again, leading to a significant pullback over the weekend. Many fans probably did not expect this wave, but fortunately, we positioned ourselves for a short. Lihui has been consistently advocating a bearish outlook, and those who followed along have benefited. However, some were still looking at 2700 yesterday, which is quite perplexing. The 4-hour chart has diverged again, and Lihui has repeatedly emphasized that one should avoid going long after a divergence! Therefore, today’s strategy remains unchanged: continue to hold short positions!
As you can see, the 4-hour Bollinger Bands are once again narrowing downwards, with the upper band pressing down below yesterday's high, indicating that the upper space is continuing to be compressed. The resistance above today can be focused on the mid-band and the EMA30 overlapping pressure position; the lower band is also moving down and overlapping with the EMA60 position. The major target for shorts today can be seen at this position. The current fast and slow lines at this level are intending to converge, so the EMA60 is approaching the 2400 level, which may form a parallel support level with the low from the 13th. Therefore, entering long positions is relatively suitable here. If this position fails to hold, we will face significant shorts again.
Since the 2400 level is also the daily EMA180 position, breaking this level will likely lead to the EMA120 position next week, which is around 2250. This position also forms a coinciding support level with the lower band; how it plays out specifically will depend on the market's speed over the weekend. Everyone can keep an eye on market changes for adjustments!
Today, the suggested short entry points for Ethereum are in the 2490-2520 range; stop loss at 2560; target at 2450-2415; if breaking below 2410-2400, you can continue to hold. If stop loss is hit, you can continue to adjust to the 4-hour upper band position to short again!
For long positions, continue to focus on the 2400 level, which is also the 4-hour EMA60 and lower band position, with a target of 50-100 that can be taken freely! Specific entry opportunities can be followed through Lihui's real-time updates!
The article review and push have delays, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, with real-time notifications as the standard. The suggested points in the article are for reference only; please do not operate with heavy positions. Always set stop-loss and take-profit levels, and take profits when favorable!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. For those who are unsure about trading, feel free to comment and leave messages!
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