Not overly bullish Everything is obtained from the market ～
Good evening everyone Fortunately, I didn't make any trades yesterday, otherwise, I would have been treated like a piglet again. The Ethereum market first dropped and then surged. Today's market behavior is completely unpredictable and quite extreme. In fact, breaking below the short support at 2980 should have continued downward, but to my surprise, it violently surged from around 2900 to 3150, nearly 250 points. So in the current market, we can only adopt a light head and heavy tail approach, otherwise, a stop loss of 30-50 points can be triggered in an instant!
Returning to the market, on December 4th, Ethereum once again touched the top of the downward wave and then faced resistance and fell back. I remember that day I was fooled because I said last Thursday that if there was another big drop, it would be unmanageable. Normally, it should have slightly retraced and continued to rise, so I mentioned that the target was around 3040, without expecting to gain too much, because the market was already at a limit. The lowest drop to 2900 was again approaching the downward wave channel. I estimate that the overall box fluctuation area at the top of 3250 is likely to be broken. It is both a top and a short-term minor ice line. I do not recommend anyone to short near 3250; it may break through and then retrace to around 3100-3130. So today, we just need to find opportunities to go long. The Bollinger Bands daily K-line retracing mid-line is not broken, and the EMA is strengthening and even reversing. These are all signals to go long. Therefore, I recommend everyone to go long directly around 3080-3110, and we can discuss adding positions later. Start with a head position
Target: 3260 ～ $ETH
