8.21 Morning ETH Thoughts


ETH and BTC show synchrony in their trends, with prices rebounding after a slight pullback to a low of 4263, encountering resistance and falling back after reaching a high of 4378 in the morning session.

Technical observation:

- Four-hour level: During the rebound process, signs of stagnation appear, and the middle band of the Bollinger Bands serves as a key resistance level that has not been effectively broken through. Additionally, the middle band continues to decline, with the overall trend still dominated by the bears.
- Hourly level: The price tests the upper Bollinger Band and then falls under pressure. The KDJ indicator's three lines enter the overbought zone and then turn downward, with the death cross pattern gradually forming.

Based on this, the morning trading strategy suggests focusing on short positions during rebounds.

Suggestion: Enter around 4340-4370, target: around 4190
BTC3.84%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)