ETH one-hour bottom divergence failure? Consolidating for 12 hours, what are the main players waiting for?
According to the Chande theory technical analysis, ETH is currently still in a continuation of the one-hour segment downtrend. Although there has been a one-hour level bottom divergence + perfect five-pen structure, the one-hour rebound segment has not yet emerged. Each time there is a bottom divergence, it only gives one entry, which is why I say that doing a second buy can reduce the number of stop-losses.
From the four-hour K chart, ETH has been consolidating for over 12 hours. I hope it temporarily breaks 2073 before the evening to give a four-hour rebound. The overall trend is still bearish, after all, the moving averages for 5, 10, 20, and 60 days are all in a bearish arrangement. The next good short opportunity will be when the daily chart rebounds to provide an entry for shorting; the best opportunity will be when the weekly chart rebounds to provide an entry for shorting. Recently, this weekly downtrend has indeed been a bit urgent; I hope it doesn't end in three entries.
From the weekly chart, I still hope for a temporary break at the 2100 position. Whether it dips to 2060 or 2050, I hope this week’s weekly closing can stabilize at 2100. Then, the weekly golden cross can rebound to around 2800; otherwise, this trend is too ugly. Either this adjustment ends quickly, directly probing below 1600, or the extreme drops to below 1350.
Now, let's patiently wait for the one-hour to break the high point, then pull back to take a wave of long positions. At this position, it's impossible to short, and it's also #ETH $ETH #BTC突破7万大关