12.24 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
Yesterday, those who followed Lihui's long positions set at 3270-3240 have seen the third target of 3450 reached this morning. Although the market fluctuated several times yesterday and faced some setbacks, those with patience who followed my strategy were able to hold on, resulting in a profit of several dozen points. The market proves that Lihui's strategy is still correct. I mentioned in my article yesterday that since the support held below, we should patiently wait for it to complete its movement, as there is still a lifeline below! After taking profits on long positions, those who shorted above 3455 could also capture a space of 80-100 points.
Continuing to look at the Ethereum market, after touching the lower band in the early morning and stabilizing, it has successfully broken through EMA120 and reached 3465. Currently, it is retracing to the EMA80 position. We can see the Bollinger Bands are narrowing upwards, and the recent bottoms are slightly higher, which is a sign of stabilization after the retracement. The lower band is approaching the 3300 position, which can serve as a defensive replenishment and entry point for today. First, we need to consider if the market drops quickly enough; the first support to consider is at the intersection of MA60 and MA30. The MACD shows a decrease in volume above the 0 axis, with the fast and slow lines narrowing. As mentioned earlier, the first narrowing often fails, so everyone should pay attention; a failure to narrow is the time to take profits on short positions.
In the 4-hour chart, the Bollinger Bands are opening. After the morning candle pierced EMA30, a retracement formed. The current support below is at the Bollinger Bands' middle band and the bottom trend line MA380 support zone. The pressure above is at the EMA220 position, around 3530. The area between EMA220 and EMA120 still has significant resistance, indicating that the bulls will need to undergo a longer period of consolidation to effectively break through. Friends who are stuck above 3650 need to be patient. The MACD shows increasing volume above the 0 axis, with the fast and slow lines forming a golden cross and continuing to open, indicating that there is still a considerable distance to the zero axis, so we will continue to see upward fluctuations.
On the daily chart, the support below is at the EMA60, EMA80, and MA60 range. The important resistance above is at the intersection of the middle band and the EMA15, 30 lines. Currently, the MACD shows a decrease in volume below the 0 axis, with the fast and slow lines continuing to narrow, which allows us to observe the strength of short-term rebounds and the performance of daily closing strength.
In summary, Lihui believes that the strategy should still focus on buying on dips. As the end of the month approaches, there will be significant events in January, which will likely lead to another phase of price increases. I hope everyone does not get stuck at low positions; therefore, the deeper the current retracement, the more surprising the subsequent rebound will be!
At 9:32 AM Beijing time on December 24, the editor suggests continuing to take light long positions in the 3330-3300 range; reserve for replenishment at 3250-3220; stop loss below 3200; targets are set at 3440-3510-3560; if it breaks above the 3580-3600 range, you can continue to hold.
For short positions, also pay attention to the 3580-3600 range; if it does not break, lightly enter short positions, aiming for a profit of about 100 points! Specific operations can be consulted with Lihui based on real-time changes!
The article review and push have delays; the market changes rapidly, and specific entry opportunities must be combined with real-time operations. The suggested points in the article are for reference only; please do not operate with heavy positions. When entering, please set stop-loss and take-profit levels, and take profits when they are available!
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 unsure about trading!
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This article is exclusively published by (WeChat Official Account: Zhang Lihui) for reference only; risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. As the saying goes, "The road ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's trials, 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 filled with challenges and opportunities!
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