Friends, I am Qi He. I just watched the market, and two pieces of information made my back tense. One chart is about ETH's technical analysis, and the other is a 'time bomb' that could ignite the global market. Tonight, for those of us trading ETH, we need to keep our eyes wide open.
News:
Financial news flash, a few big words are eye-catching: 'The Bank of Japan is likely to raise interest rates by 25 basis points in December' with a 96% probability! The time is this Friday. It's almost a done deal.
Don't think this is just a matter for Japan. Global capital markets are interconnected. Once Japan officially raises interest rates, it means another major economy is tightening the 'tap', and the cheap money globally will become scarcer and more expensive. Under such expectations, the high-risk and high-volatility cryptocurrency market is often the first to be sold off. Large funds will become cautious, even pulling out early.
Technical analysis:
The ETH one-hour candlestick chart looks like it's rising, right? But experienced players know to look beneath the surface. The MACD indicator below, with the white and yellow lines lying below the zero axis, has also formed a 'death cross'! What does this signal? This is called a 'rebound in a downtrend,' which indicates weakness. The upper 3150 looms like a mountain above. The lower 3000 is a key psychological level; if it breaks, the support at 2890 will really be in jeopardy.
Now look at that 'sword' hanging in the air.
What should the current player do?
If you have a large position/are heavily invested: Treat the 3150-3180 area as a golden position for reducing your holdings or exiting at break-even. Don't be greedy! Profits in hand are yours. Set your stop-loss firmly just below 3000.
If you are flat/lightly invested: This is a good thing. Keep your hands steady, watch more and act less.
Qi He’s personal opinion:
For tonight to tomorrow's market, I judge that the high probability scenario is 'rising, then falling'.
Inducing buying: The market may take advantage of the current upward trend to challenge the 3150 resistance level again. At this time, many people will feel that 'a breakout is imminent', 'the bull market has returned', and will rush in.
Selling pressure: However, under the dual pressure of global interest rate hikes and ETH's own technical weakness, this rise is likely to lack strength and then quickly reverse. Whether it can hold above 3000 is the first test.
If you don't want to take risks alone on such a critical night, and if you want to know the real movements of large funds at this moment, feel free to find Qi He. Together, we can find the most stable ship in the tumultuous market.
I am Qi He, an analyst who only wants to speak the truth and offer practical insights. Follow me, tonight, we won’t miss each other. Follow Qi He, + chat room to help you avoid pitfalls, dissect subsequent fund movements at the first opportunity, and seize every profit window!
