Zhao Qinchuan: Ethereum spot buying point appears, with intraday operation viewpoint attached

CN
1 year ago

This content is exclusively created by senior analyst Qin Chuan, who has been researching Bitcoin, Ethereum, contracts, spot, gold, foreign exchange, stocks, and other investment fields for many years. Currently, he mainly guides contract operations, has a solid theoretical foundation and practical experience, excels in combining technical and fundamental analysis, emphasizes capital management and risk control, and has a steady and decisive operating style. He is widely recognized by investment friends for his amiable and responsible character and sharp and decisive operations. For real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, please follow the public account: Zhao Qin Chuan.

Disclaimer: The following analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk. Investment carries risks, so market entry should be cautious.

2024.4.29 BTC————————

With Bitcoin's weekly trend continuing to be bearish, the price may not break through the 63000 support level. Qin Chuan believes that this decline is acceptable, as the current situation indicates a bearish trend on the daily chart. There is resistance above on the daily chart, and breaking through the 64100 level is a key area to watch. Currently, Qin Chuan cannot provide a long position on the daily chart. After the short-term Bollinger Band trend turned downward, the price is oscillating around the middle track on the four-hour chart, with a focus on the range of 62100-65000. After the bullish divergence was corrected, the price quickly entered a new round of decline. The indicators in the attached chart show the fast and slow lines flattening and sticking together, and the KDJ three lines diverging downward, indicating an overall search for support. Based on the above, the suggestion for Bitcoin's future is to continue shorting the rebound.

Pending orders:

Short at 64100-64500, with a stop loss at 300, and a target of 500-800 points or more

(The strategy can only be used once, and the profit-taking can be arranged at your discretion)

2024.4.29 ETH————————

After strong buying pressure entered the weekly chart, Ethereum formed a bottom-reversal pattern. On the daily chart, it formed a long upper shadow inverted hammer candlestick, indicating a bottom-building sign on both the weekly and daily charts, suitable for long-term spot buying. Aggressive traders can directly enter a long position at the current price of 3260 to see if it breaks through the 3360 level, while conservative traders can enter a long position near the 3200 support level. On the four-hour chart, the price is running in an upward channel, and currently, there is a support conversion around 3280. Strong support below is around 3180. On the hourly chart, there is a certain rebound after touching the 3250 support, but if the price cannot break through 3300 smoothly, it will test the bottom support again. Based on the above, the suggestion is to focus on intraday operations for Ethereum.

Pending orders:

Short at 3380-3360, with a stop loss at 50 points, and a target of 40-100 points or more

Long at 3180-3210, with a stop loss at 30 points, and a target of 50-80 points or more

(The strategy can only be used once, and the profit-taking can be arranged at your discretion)

In the market, there are countless changes, and the cycle continues. Inner cultivation and external practice are essential. The road ahead is long and arduous. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without lofty aspirations, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a story of learning and growth. Through hardships, there is also beauty. Do not forget the original intention, and you will eventually succeed.

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