ETH Intraday Strategy Sharing (12.15)
Good evening everyone, I am Chen Changsheng. The chat room is now open; you can join by scanning the QR code pinned to the homepage. After a month of volatility, the market still hasn't shown a clear direction. Apart from the second cryptocurrency breaking out of the consolidation area, Bitcoin and SOL remain within their structures, so it's still advisable to accumulate Ethereum!
On the chart, the second cryptocurrency continues to strengthen at its peaks and troughs, extending the third wave of the main upward trend. Currently, the market is short-term bullish and long-term bearish; it just depends on whether we can find an ideal short position. Since October 7th, the second cryptocurrency has been weakening, and on December 10th, it broke the downtrend that lasted for two months. Currently, both the 4-hour and daily charts have broken the downtrend structure. After the breakout, the price retested above 3000, which coincidentally aligns with the trend line and did not fall back into the structure again. The daily Bollinger Bands are retesting the middle line and gaining support, while the 4-hour chart has broken through the middle line resistance. I believe this indicates a continuation of the bullish trend. Of course, if Ethereum cannot break through 3250 this time, then the downward trend will continue because 3250 is a critical level, and there is a short head and shoulders pattern on the 4-hour chart. Even if this wave falls, it should first rise before falling. I recommend going long around 3070-3100 and adding to positions around 3020-3000, placing a stop loss a few points below. The target is above 3300 ~ $ETH
