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Ether market analysis
Although Bitcoin has fallen quite dramatically, Ether has not fallen as deeply compared to Bitcoin. In the early hours of yesterday morning, Ethereum fell to around 1944. At that time, when communicating with friends in the community, someone mentioned that this point may be a triangle central axis plus a support area, if you want to add a long position, this position is a good point, and the profit and loss ratio should reach about 1:1 at this time.
However, is it time to chase high? We can't jump to conclusions so quickly. The main reason is that if we draw a flywave, we see that it is already very close to 0.618, which is a potential resistance zone. If the current market is not very clear, for friends at the bottom, you can consider eating half of it, and then carry out the operation of capital preservation, which is as simple as that.
In the medium to long term, even if Ethereum does rebound, the most extreme case scenario may be to backtest to which point? I use a case study that was equally successful on the NASDAQ. If we define it as a channel, you need to feel the left side, around 1865, and then set the stop loss below 1820. If you don't want to get to the left side, you need to take this into account. If it falls to this position again, will there be a false rebound of the previous double bottom? If there is no false rebound, it may go down all of a sudden, and then you need to wait.
Some friends often ask that after watching the film yesterday, they didn't find some medium- and long-term spot opportunities. If you really want to trade a big swing, then maybe consider the 1866 position. Did you say that this location might not arrive?