On Monday, let's first look at the weekly trend. The K-line pattern has been falling, and the price is running below the moving average. The attached indicator crosses downward. Although the closing line has a long lower shadow, it does not affect the trend. This week we will not look for new lows, just focus on the price replenishment, so the idea is to first make it clear that we continue to be bearish.
Technical analysis of (ETH) contract: Today, the large-cycle daily level closed with a small positive line yesterday. The K-line pattern is still a single positive line with consecutive negative lines. The price is running below the moving average, and the attached indicator is downward. The overall trend is still obviously downward. What we need to pay attention to this week is that the probability of the price making up for the downward low is relatively small; the short-cycle hourly chart weekend price correction high is near 1696 area, and the low is in 1638 area. The current price is under pressure and retreats. The K-line pattern is consecutively negative, and the attached indicator crosses downward. It will still fall during the day. Whether the European session can break through is the key. Therefore, today's ETH short-term contract trading strategy: Directly short near the current price of 1675, stop loss in 1701 area, and target 1630-1615 area;
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