Cryptocurrency Expert: On November 11, Ethereum (ETH) declined and seized the knife: Why "I think it's cheap" is the most expensive phrase in trading
I know many people are cursing right now: "I should have run away at 2400" "I shouldn't have tried to catch the bottom." But in trading, there is no 'should have'—only early review. I have also fallen into traps, always thinking "it will drop a bit more and then it's at the bottom", only to find that below the bottom there is a basement, and below the basement there is a cellar. Later, I learned my lesson: cutting losses is not admitting defeat; it's leaving a way out for myself. If you ask me whether the market will go up or down, I really can't confidently say because the market changes every day. What I can do is mark the positions for you and clarify the risks; the rest is up to you.
The daily K-line produced a significantly large bearish candle that directly pierced the lower Bollinger Band at 2091. All moving averages are in a bearish arrangement: EMA15 at 2237, EMA30 at 2316, EMA60 at 2360, and the price is pressed underneath all moving averages. The residual heat left by the previous high on MACD has shifted from "strong" to "correction" mode on the daily level. Currently, TD is at 6, indicating that this wave of decline is not yet over; do not rush to catch the falling knife in the short term.
The four-hour K-line shows a large bearish candle that directly broke through the lower Bollinger Band at 2042. EMA15 is at 2140, EMA30 at 2183, and EMA60 at 2230; the price divergence has widened significantly, belonging to a typical "accelerated bottoming" pattern. MACD green bars are amplifying as DIF crosses below DEA; bearish momentum is still being released. TD is at 3, indicating this wave of decline has only reached the mid-stage; don’t think it’s at the bottom just because you see a lower shadow line.
Short-term reference:
If it goes north from 2000 to 1950, face resistance; stop loss 30 points, target 2050 to 2100.
If it goes south from 2140 to 2180, faces stagnation; stop loss 30 points, target 2100 to 2050.
Specific operations should be based on real-time market data. For more information, you can consult the author; there may be a delay in article publication, suggestions are for reference only, and risks are to be borne by yourself.
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