Zhang Lihui, edited at 1:45 AM Beijing time on May 20: Ethereum market analysis and trading suggestions:
In the early hours of yesterday, Ethereum broke through the top trend line again, leading to a significant drop. After Bitcoin broke its previous high, Lihui calmly advised against chasing long positions, hoping everyone was not stopped out! I have said it countless times, high positions in Bitcoin are only suitable for shorting. Even if it breaks last year's 110,000, I will only plan for high short strategies. Without a deep pullback, I absolutely will not let my fans take risks! After all, the space below must be larger than above! From Ethereum's recent performance, it is no exception; when Bitcoin moves, Ethereum returns to its usual behavior! Lihui has also mentioned multiple times that the convergence of the fast and slow lines on the 4-hour chart is key. Last night, the third convergence failed, leading to a significant drop. The intraday market has again shown a rebound, and the current level of DIF and DEA has once again formed a convergence pattern. This is already the fourth convergence; barring any surprises, Lihui still sees a divergence correction! Of course, Lihui's judgments are not always correct, so remember to set stop losses when entering the market. At key positions, you can still try to open positions! Today's high point needs to continue to look at the double bottom resistance from last night, which is also close to the upper band position; the support below continues to look at the middle band and EMA60 range. If this position fails to hold, it will again fall back to the EMA80 and 2350 range.
On the daily level, the Bollinger Bands have formed a convergence. Saying how much it will rise is really a joke; at least in the short term, it cannot exceed the previous high because the lower band has continued to press down close to the EMA300 position. This position can serve as today's high resistance and stop-loss level. The current K-line is still impacting the middle band position, so the support below can refer to the lower band and EMA180 range. It can be seen that the fast and slow lines have also shown extreme convergence, and whether a death cross forms is also crucial. Once formed, a significant drop will definitely be on the way; it's just a matter of time!
Today's Ethereum short suggestion: Short in the 2540-2580 range; stop loss at 2620; target 2480-2430; if it breaks 2420-2400, you can continue to hold until near 2350; if stopped out, you can continue to consult Lihui to adjust the opening price! Do not chase long positions at high levels!
Long positions should still focus on the 2300-2350 range for secondary support entry, with a target of over 100 points of space to take profit freely! Specific entry opportunities can be followed through Lihui's real-time updates!
The article review and push have delays; the market changes rapidly, and specific entry opportunities must be combined with real-time operations. The article's suggested points are for reference only; do not operate with heavy positions. Please set take profit and stop loss when entering, and take profits when you see good results!
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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This article is exclusively published by (WeChat public 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. Just as "the road 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 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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