ETH
The current price of Ethereum is 3027. After several days of divergence in the market, it first broke the large descending triangle and reversed to break the previous high of 2820. Now it is facing significant resistance from the descending flag pattern, with major pressure from 3630 to 3050. Regardless of whether it can break this level, there is reason to start short positions as it reaches trend-level resistance. As always, once in the trading range, do not hesitate; execute according to the trading system. If right, hold; if wrong, cut losses. Remember, we are doing the right thing; do not doubt your trading system due to various distractions.
Yesterday's daily candlestick had a high of 2984. This morning at 8 AM, after the market opened, there was a direct stretch breaking yesterday's high, reaching 2996. The EMA trend is starting to contract, with EMA15 now below the 120 trend line at 2672. From the market's perspective, the support at 2700 is unlikely to hold in the short term, and support levels will continue to stretch upward. The MACD has been continuously increasing in volume, the upper Bollinger band has lost support at 2934, and the current candlestick price is 2973. The KDJ is encountering clear resistance at the 3000 level.
On the four-hour candlestick, there have been nine consecutive abnormal bullish candlesticks. The support from the EMA15 trend line has reached 2850. Focus on the 30 trend support at 2750, as the MACD shows significant top divergence, with DIF and DEA encountering clear resistance above. The upper Bollinger band is now at 3100, and the middle band support is at 2800. This provides a potential entry point and defense point for short positions above.
Short-term reference: Safety first. Remember, there is no 100% certainty in the market, so always set stop losses. Safety first, with the goal of small losses and large gains.
