Monthly Level: Looking back at last month, we discussed the doji star formed in October. In November, it is highly likely that we will see a wide range of fluctuations. Last month, Ethereum's high was around 3750, and I had already reminded everyone that the rebound was in place, and a weekly level correction was likely to head towards around 3350. The actual market dipped to around 3375 for a rebound, then consolidated around the MA30-MA50 of the 3-day line. The low was in the 3655-3685 range, and the high was in the 4175-4240 area, with a strategy of shorting high and longing low. The upper defense is at 4265, and the lower defense is at 3650, where we have consistently captured multiple profit opportunities exceeding 300 points.

Back to the actual market, the opening price in November was around 3858. I mentioned in my analysis on Monday that the monthly line is in a downward fluctuation. Currently, we are experiencing a weekly level correction, with the 3-day line in a consolidation range. The key breakdown point is at 3650; if it breaks down, we will look for support at around 3450, with extreme support in the 3080-3120 area. From the actual market, we can see that we have already reached the large-scale dense support area I mentioned, and I had also set up long positions in advance around 3080-3150, allowing those who followed to enjoy significant profits.

What’s next? Many people ask me if we are entering a bear market. In my view, there is no concept of bull or bear markets; they are all phase-based demands. Believing in bull and bear markets makes it easier to chase highs and cut losses. For this phase, I temporarily consider the 3050-3100 area as the bottom, as we have already found the low. If the short-term continues to fluctuate upward, the first key position is around the opening price of the monthly line at 3858. As long as this level is not broken, we can attempt to short near this position. Once the entity breaks, the short-term strategy should shift from short to long, of course, this needs to be observed step by step in the actual market, with the highest expectation around 4675.

5-Day Line Level:

After the opening of the 5-day line, it peaked near MA7 and faced resistance, falling back. Here, I also reminded everyone to set up short positions in the 3940-3960 range. Currently, a large bearish candle has dropped directly from near MA7 to the vicinity of MA50 and MA120 daily moving averages, with RSI about to reach the oversold zone. Pay attention to a second dip here; if it does not break the previous low near 3050, it will stabilize and rebound around 3120, aiming for a low position to bet on a rebound in the 3085-3145 range. The extreme defense is set at 3030. If it breaks 3050 and continues downward, we will look for a re-establishment of long positions around 2850.

Daily Level: Last night, this drop hit the large-scale dense support area of 3050-3150. The rebound high was around 3480. Today, during the day session, it rebounded to around 3450, where I mentioned it could be shorted due to a significant gap below, which is likely to lead to a second dip, similarly around the 3100 level with a 50-point range.

4-Hour Level: Looking for support downward, the first position is in the 3268-3278 range. If it does not break 3250, it will form a 4-hour level upward fluctuation channel. If it reaches a high, it will be just below 3650, where previous strong support turns into resistance. If a small reversal signal appears above 3600, it can be shorted. Actual market operations should be observed in conjunction with volume.

This article is for reference only and does not constitute operational advice. This is the first article published on AICoin. If you find the content valuable, please consider following!

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