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ETH: The daily chart shows that after breaking the downward resistance range of 4520-4480 points, it is primarily in a trend of short positions. Overall, we will mainly follow the high-level short positions.
Last night, the market reached a high point of around 4550 points, and later the market returned below 4480 points, proving that the upward momentum is relatively weak. The main focus of the overall range is the breakthrough of 4420 points. There are no issues with the judgment on the overall trend.
Therefore, it is recommended to focus on short positions, with a suggested entry point of 4450 points. Friends who haven't placed orders need to wait for a while; I will provide tips during the day when opportunities arise.
Yesterday, we mentioned during the trading session that after the market breaks the range of 4420 points, there will be a relatively large pullback in the overall market space, especially noting that bulls need to stop losses when it breaks below 4400 points.
Answer everyone's questions, not my questions. I am currently outside with only a laptop and will find someone to adjust it this afternoon.
Everyone needs to add to their short positions at 4480 points after entering at 4435. Personally, I think it's a bit aggressive. However, the overall issue shouldn't be too big, and a strategy of entering at 35 and adding at 80 can be executed, with the cost around 50-60 points. But at this position, we can only test the waters first; we can add to our positions if it breaks the resistance.
Some people mentioned whether it's possible to go long in this market. Personally, I mainly focus on a high-altitude perspective of the market trend structure, and short-term profits are generally not too high.
Return to the market and pay attention to the resistance at the high point of 4480-4520. Therefore, if the entry point is not very suitable, it is better to wait for a higher price. The trend support at 4420 points is not easy to break, and going short at 50 points is a prediction of the trend breaking through 4420 points. Therefore, it is suggested to take more profit, with the target below recommended at 4260 points. The reduction position is at 4350 points.
In short-term summary, short positions are initiated around 4450 points, with a stop loss at 4510 points (defensive at 4480 points not to be breached) and a take profit at 4350 points. A downward breakout of resistance would allow for a reduction in positions with a target of 4250 points.
The trend position has a second take-profit target of 4250 points. The robot's approach is like this.
Answering everyone's question about whether the 4420 point just now counts as a breakout, because I mentioned in the live broadcast that the concept of a breakout is the closing price. The 1-hour chart is actually in a breakout, but this is a short-term false breakout, and the market may induce more buying at this position. Therefore, it would be more suitable to buy around 50.
At the current position of 4445, those who haven't entered the market can consider taking short positions. Set the risk control and target with a stop loss at the high point of 4510 and a take profit at 4350.
You can enter at a similar position. If it fluctuates to touch 4480 points, you can slightly add to your position if you have leftover funds. The 45 position may not be the best, but if the trend is fine, it shouldn't be a big problem.
The upcoming market will require some patience; pay attention to the 4420 point breakout as that is when the market will move quickly. Be prepared for the market.
At least the defense should be above 4480 points, and it cannot be set too low for now. After breaking through 4420 points, it can be lowered to the 80 line for short positions.
The market is moving relatively slowly, we still need to wait a bit.
Yesterday's market prediction broke 4420 points, and the evening market fluctuated in the range of 4420-4520 points, with the overall support at 4420 points still being quite strong.
Let's see if the market can break out at this position in the afternoon.
The market is stagnant at the cost level; for now, just place large orders and focus on what needs to be done. We'll take another look later.
I will share the thoughts later, for those who do not understand, please refer to the plan. That's all for now, more to discuss in the evening.
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The broadcast has ended.