December 5th, 10 AM ETH Trend Analysis

Naked K and Trading Volume: The daily line closed with a small bearish candle as expected, with daily support around 3095 and 3030. The 4-hour line showed a declining trend with volume, indicating a bearish pattern in line with volume price, short-term outlook is bearish, with support at 3075, 3030, and 2985.

MACD: The daily MACD golden cross continues, and has not yet reached the middle track. From the indicators, there is still plenty of space above, but it will not directly pull to position; the market needs to adjust before rising again. The 4-hour MACD shows a death cross trend, and short-term indicators are bearish.

Bollinger Bands: The daily Bollinger Bands are an important indicator, and I have been emphasizing this indicator. The market did not disappoint as it met resistance at the upper band and indeed fell. The daily Bollinger Bands flatten out indicating a sideways trend, combined with the reversal pattern of K-lines, the daily middle track is a good point for going long. The middle track supports at 2980. The 4-hour middle track can also be used to bet on long positions.

Moving Averages: Daily support at 3109, resistance at 3525; 4-hour support at 3048, resistance at 3168.

Supply and Demand: The upper resistance range is 3028-3248, 3500, 3565, 3607-3658. The lower support range is:

3084, 3030-3059, 2978-3016.

Fibonacci: The correction of 2718-3239 at 0.236 is 3116, 0.382 is 3040, and 0.5 is 2978. There is strong support in the range between 0.382-0.5, and a pullback to this range can be used for long positions.

Venus Channel: 4-hour resistance range 3342-3405, 1-hour support at 3105.

Personal advice for reference only: The long-term daily downtrend has been completely broken, and now the daily Bollinger Bands are narrowing and flattening, changing the daily level from a downtrend to a sideways trend (the larger trend cannot yet be judged as a one-sided upward trend). The 4-hour and lower levels are in a downtrend, and the 4-hour volume price combined reversal pattern suggests that the market will continue to move down. In the strong support range below, you can set up long positions to attempt to catch a small bottom.