Analysis of ETH intraday market on July 20
From the daily level, today when the K of Ethereum is up again, the K of Bitcoin is green TD9. According to the current long trading volume, the intraday bulls are also obviously warming up and starting a counterattack. So the two declines to around 3470 during the day and early morning are estimated to have completed the bottoming. From the current technical structure, this round of Ethereum bull counterattack is indeed very abnormal, because Ethereum's TD9 has stabilized, unless this wave of pull-ups is to consolidate the green TD9 of Bitcoin.
From the 12-hour level, BOLL is currently strengthening overall, and this technical change is not big. MACD and KDJ indicators show a slight upward rhythm change; the main chart coin price is again above the MA5 daily average line and the green TD1 bullish volume signal appears. At the same time, the MA30 daily average line is increasing at a low level. It can be seen that the strengthening of the 12-hour line also tells us that the last round of Ethereum's retracement sentiment has ended (at the same time, the technical aspect also tells us that Ethereum's last round of decline sentiment did not effectively fall below the low support area, so everyone needs to pay attention to if the green TD1 of the 12-hour line can stand firm, the subsequent coin price will rush to the high point again and press the area around 3518-3591).
In addition, the 4-hour level short-term released a downward signal today, and then the short position shrank after the pin tested below 3400. At 8 o'clock in the evening, the long position accelerated the increase in volume (this is the market that lures shorts to stir up trouble). At present, the currency price has once again stood above the MA three-day moving averages. At the same time, the MA three-day moving averages are also arranged upward at different amplitudes, so Ethereum is expected to continue to strengthen again in the early morning.
Summary: I personally expect that the overall trend of Ethereum will tend to fluctuate upward during the early morning, and it is expected to touch and test the first strong pressure area of 3518-3591 at the high point. This is also to prevent the dealer from attacking again. If the first strong pressure area is effectively broken, the second strong pressure target of the high point can be referred to the area around 3738-3825 (after all, everyone has seen the absolute one-sided market, and not being afraid of 10,000 here is also to prevent one hand from one).
According to common sense, the first strong pressure is enough, because the TD9 indicator of Ethereum and Bitcoin daily line does exist after all, and naturally it also buried the signal of the second wave of retracement. As for the retracement time, let's take it one step at a time.
