Crypto Circle Academician: After Ethereum (ETH) broke below the key support on October 31, I instead saw an opportunity overlooked by everyone.
To start off, a few words: Honestly, the current market situation is really not suitable for heavy trading. It neither rises much nor falls hard, just drags on; a double explosion for both bulls and bears is common. I know friends with itchy fingers always want to trade, feeling uncomfortable if a day goes by without trading. But think about it, if you trade back and forth ten times, do you make enough profit to cover one loss? In trading, less is more, and patience is more important than anything else. Spend good time with your family on the weekend and don't keep staring at the K-line; there are opportunities every day, but there is only one body. Let's talk more tomorrow!
The daily K-line moving average system is in a complete bearish arrangement. EMA15 is at 2364 and EMA30 at 2425, the price has already deviated significantly from the short-term moving averages. The MACD green bars are still expanding, indicating that the downward momentum has not yet dissipated. The Bollinger Bands are opening downwards, with the middle band at 2393 becoming a strong resistance, and the lower band at 2247 was also broken today. Currently, it's in an oversold area, but oversold does not mean an immediate rebound, so don’t rush to catch falling knives.
The four-hour K-line TD sequence has reached 5, which means there has been the fifth K-line in the downward process. We need to pay attention to whether there will be a low 9 signal to trigger a short-term rebound. Regarding the moving averages, EMA15 is at 2289, EMA30 at 2315, and the price is currently running below all moving averages, indicating a typical weak pattern. The MACD value is positive but has evidently started to turn downwards, with red bars continually shortening, showing a decrease in bullish strength. The lower Bollinger Band at 2219 is a key short-term support. If this position breaks, the space below will open up.
Short-term references:
For upward movement, resistance is at 2200 to 2150, with a stop loss of 30 points, targeting 2250 to 2300.
For downward movement, stagnation is at 2300 to 2350, with a stop loss of 30 points, targeting 2250 to 2200.
Specific operations should primarily rely on real-time market data. For more detailed information, you can consult the author; there may be delays in the article publication, and it is recommended for reference only; risks are borne by the reader.
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