11.20 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
After publishing the article early yesterday morning, the market quickly moved to the long position in the 3110-3130 range we laid out, triggering the market which then rapidly surged above 3200. The space is clear for everyone to see, and it was mentioned that if 3235-3245 is not broken, a short position can be taken. The market moved up quickly and came down just as fast, and I estimate many traders missed it while they were asleep.
Continuing to look at the market, just now Bitcoin surged to a new high again; in the 1-hour chart of Ethereum, the upper Bollinger Band is rising, and the K-line retraced to the EMA300 and lower band range last night, forming a rebound again. The current K-line is pushing upwards towards the MA30 and upper band range. It was mentioned yesterday that MA180 and MA220 still cannot be considered resistance points, so today the pressure at the high point will depend on whether the 3230 position can be broken. The MACD is forming a volume pattern below the 0 axis, and the DIF and DEA are narrowing, which may form a golden cross, indicating a potential small breakout for long positions or a supplementary rise pattern. The strategy remains to enter long positions on dips.
In the 4-hour chart, the Bollinger Band channel is parallel, with the upper band below yesterday's high, indicating some pressure for a breakout, which will depend on how Bitcoin pulls. In the evening, the K-line dipped to the EMA60 position forming a rebound, currently attempting to stabilize at the MA30 and middle band range. If it breaks above the MA60 resistance, we can see the upper band position, with defense still placed at the lower band and EMA80 range. The MACD is shrinking above the 0 axis, approaching the 0 axis position, with the fast and slow lines converging, waiting for the DIF to rebound when it touches the DEA; however, we should also be cautious of the false reversal caused by the death cross.
On the daily level, the Bollinger Band has opened parallel, with the lower band ending its upward posture, but the EMA10, EMA15 continue to rise, including EMA30, 60, and 80, all showing bullish patterns, continuing to look for bullish momentum.
In summary, Lihui believes that the range oscillation has not effectively broken out, and we should continue to layout low long and high short positions. Today's short entry opportunity can still be considered if the high point of the 14th is not broken.
Beijing time, November 20, 2:13 AM, editor: It is recommended to enter light long positions below 3130, reserving positions at 3060-3040 for additional purchases; stop loss at 30 points; target at 3190-3220; if it breaks above the 3235-3245 range, it can be held.
Short positions can be considered for light entry if the 3235-3245 range is not broken, targeting 3165-3130; specific entry opportunities for short positions will be notified in real-time by Lihui!
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and the article's suggested points are for reference only. Please do not operate with heavy positions, and always set take profit and stop loss levels, taking 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 BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are not familiar with trading!
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May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's baptism, staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and together compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey full of challenges and opportunities!
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