$ETH is staging a "Niu Pi Tang" market! Keep an eye on this price point
Good evening, everyone! Tonight's ETH market is making me yawn—prices have been "weaving" around $2930 for the entire night, with a fluctuation of less than 0.2% and an increase of 0.02%. This market is even more regular than watching a clock!
But seasoned traders know: the calmer it is, the more likely there are "big fish" moving beneath the surface. Without further ado, let's break down this 15-minute chart and clarify long and short strategies for you!
Prices are sandwiched between support from MA7 and resistance from MA25/M99, with the three moving averages almost sticking together. This is called "moving average convergence," and it is the most typical signal before a trend reversal! The market is waiting for an opportunity to break the balance.
Long strategy:
1. If the price can stabilize at 2,931.6, watch for the trading volume bars to break tonight's high of 2,931.99. This is the first signal of short-term strength. You can follow in with a light position, setting a stop loss below 2,925.
2. If the price pulls back but accurately touches around 2,925.5 and then stops falling, with the K-line showing a lower shadow. This is a high-cost performance low-buying opportunity. Position when it stabilizes at the support level, with a stop loss set below $2,920.
3. If MA7 successfully crosses above MA25, forming a "golden cross," and the price stabilizes above both. This provides additional technical confirmation. It can be regarded as a reference signal to increase positions or hold.
Short strategy:
1. If the price rebounds to 2,931.99 (previous high) or around 2,942 and then "stalls," failing multiple attempts to rise. This is a sign of weakness. You can try shorting with a light position near the resistance level, strictly setting a stop loss above $2,935.
2. If the price volume drops below 2,925.5, and the rebound fails to recover. This indicates that the short-term support has failed. You might consider chasing the short position, targeting below 2,910.
Moving average death cross confirms weakness:
3. If MA7 crosses below MA25, forming a "death cross." This is a clear technical signal of a short-term trend reversal to bearish, which can strengthen the short decision.
The market is always right, and our strategy is: let the market move by itself, and we will follow. If it breaks upward, go long; if it breaks downward, go short; it’s that simple!
Currently, the market is in turmoil, walking alone is lonely, follow my profile for daily spot potential layouts and bull market strategy layouts.
