Zhang Lihui, edited at 1:13 AM Beijing time on October 20: Ethereum market analysis and trading suggestions:
The 1-hour Bollinger Bands for Ethereum are narrowing upwards, with the upper band and the candlestick crossing above the EMA220, indicating a possibility of further approaching the EMA300. The early morning candlestick briefly faced pressure and pulled back but continued to move upwards. However, the fast and slow lines have not converged, suggesting that the short-term bullish sentiment is strong. Caution is advised when chasing long positions due to the short-term high turning points in KDJ and RSI. For support on the downside, look at the EMA60 and the middle band range!
Currently, the fast and slow lines on the 4-hour chart have formed a golden cross and are continuing to approach the 0 axis position, with increasing volume above the 0 axis. The market is nearing the EMA60, with a possibility of further probing the EMA80 range. However, the large bearish indicators on the moving averages are still present, and we are currently in a short-term adjustment phase. It is advised not to blindly chase long positions. Additionally, the second upward turning point of KDJ approaching overbought territory is a relatively dangerous signal, and the possibility of a false breakout cannot be ruled out. Therefore, Lihui suggests waiting for a pullback to confirm support at the middle band before entering long positions.
Today's suggested short entry point for Ethereum: light short above 4060; reserve at 4125; target 3980-3915; if it breaks below 3910-3900, you can continue to hold until around 3855;
Today's suggested long entry point for Ethereum: light long below 3915, stop loss below 3855; target over 100 points; specific entry opportunities for long positions can be followed through Lihui's real-time updates!
There may be delays in article review and push notifications; the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and notifications should be prioritized. The suggested entry points in the article are for reference only; do not operate with heavy positions. Please set stop-loss and take-profit levels when entering, and take profits when favorable!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are not familiar with trading!
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