Li Shengting: 11.7 Ethereum Early Morning Market Analysis and Trading Ideas
Today's Bitcoin/Ethereum has risen significantly to 75600/2667 due to news impact, and the election has basically come to a close. From the daily technical indicators, the KDJ and MACD indicators are showing a golden cross and are rising. The VOL indicator shows that today's trading volume is very strong, and today's daily K rise is normal considering the large trading volume. However, it is important to note that the BOLL indicator has broken out, with today's Bitcoin high touching above 75600. Therefore, there will definitely be a technical gap when the daily line updates tomorrow. Hence, it is not recommended to chase long positions in the early morning but rather to wait for a pullback sentiment to appear for trading.
From the 4-hour technical indicators, the trend is basically similar to the daily line. The KDJ, MACD, and BOLL indicators are in a resonant rising phase. However, the BOLL indicator breaking out indicates that the upward space is constrained. Meanwhile, the MA three-day moving averages are in a bullish formation, but the MA five-day moving average has a significant gap. Considering the current coin price and the large gap with the MA five-day moving average, it is highly likely that there will be a pullback for gap repair in the early morning. The ultra-short-term strategy suggests focusing on high short positions.
For ultra-short-term, I still expect a technical pullback adjustment (if there is no substantial technical adjustment in the early morning, the adjustment sentiment will be delayed until after the daily line update tomorrow; if the early morning completes the repair adjustment, then after the 8 AM update, it will continue to rise). My view here is that the 8 AM update will likely open high and then adjust downward.
The support for the lower low point is slightly adjusted to the 7.25-7.16w area. If the short-term pullback sentiment does not break the low point support, then the subsequent coin price will continue to rebound after hitting the bottom support. The current high point target is referenced to the 7.7-8w area.
The above is my personal early morning market analysis for your reference. #DOGE看涨情绪飙升 #美国大选后涨或跌？ $ETH
