The essence of trading lies in the ability to find opportunities, to plan before acting, and to strategize effectively. This has always been the key to Minghui's success in the market. Many people fail due to chaotic operations, lack of planning, and no strategy. Most losses occur from locking positions, holding onto trades, and not using stop-losses. The root cause is often a lack of skills and ideas, blindly trusting others' trades, following the wrong orders, and having a poor mindset, resulting in small gains and large losses. The saying "think thrice before acting" holds true; only well-considered entry points should be taken. Aggressive points can leave traders in a dilemma, either catching the highest or lowest points, leading to significant price differences. If one is reluctant to take a loss, they can only endure. Stable entry points allow for profit-taking or exiting the market.
7.29 Cryptocurrency Market Analysis by Minghui: Ethereum (ETH) Strategy Reference
Yesterday, Ethereum's movement was linked to Bitcoin. After breaking the previous high, the price faced resistance around the 2940 level and began to decline continuously. By the evening, the volatility was exceptionally strong, and after a slight washout at a low point near 2750, the situation began to improve, slowly recovering and starting to rise. Currently, the price is operating around the 3780 level. Although it broke through the 3900 resistance area during the day, the subsequent supply was insufficient, leading to a slight pullback and entering a consolidation range.
In the short-term hourly view, the Bollinger Bands are gradually flattening, with the price fluctuating around the middle band. The 4-hour level has continuously formed long upper shadows, with clear selling pressure above 3800. The price has temporarily stabilized around 3780 but has not formed an effective reversal signal. The MACD on the daily chart shows a death cross at a high position (294.99→283.97), with the histogram shrinking to 22.06, indicating a decrease in bullish momentum. The EMA7 (3735) and the 30-day moving average (3267) continue to form a golden cross, but the price has fallen below the EMA7. The 120-day moving average (2704) serves as a long-term support anchor. Therefore, short-term operations should focus on shorting at high points and buying at low points.
7.29 Short-term Strategy Reference for Ethereum:
- For the first suggestion: 3860-3920, stop-loss 30 points, target below 3810.
- For the second suggestion: 3720-3675, defend at 3500, stop-loss 30 points, target around 3760.
7.29 Short Message Strategy Reference for Bitcoin:
- For the first suggestion: 119500-120500, defend at 122900, stop-loss 500 points, target below 118500.
- For the second suggestion: 116000-117000, defend at 113500, stop-loss 500 points, target above 118000.
The points are time-sensitive, and there may be delays in posting, so please refer to real-time market conditions. Once again, emphasize the importance of risk control; no matter how confident you are in your future market judgment, always manage your take-profit and stop-loss effectively! If you need analysis on other cryptocurrencies, feel free to comment or message privately. Friends who like this can support with likes. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account: (Minghui in the Cryptocurrency Circle). The top ten daily can receive free exit strategy support.
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