$ETH Evening thoughts: 9.22.
Early in the morning, the “second biscuit” (Er Bing) touched the 78.6 area around 2806 from above at about dawn. Unfortunately, it couldn’t hold above 2800, then fell back into the price channel. Moreover, the price channel itself didn’t hold either—the price broke below the channel again. At this point, the price channel is resistance for Er Bing. If price can return to trading within the channel, Er Bing still has a chance to challenge the previous high. If Er Bing cannot reclaim trading within the channel, and instead pulls back and breaks below the 2711 support, then it would need to return to the consolidation range between 2646 and 2565. Whether it can go below the lower boundary of the 2565 box is unknown, but once 2711 support breaks, a move to test the 2646 support is highly likely.
If it can return to trading within the price channel, nothing much happens— the corresponding price is around 2755. If it cannot return, the risk of Er Bing pulling back is very high.
When Er Bing breaks out upward with volume above 2748, the aggressive longs on the right side can chase. If Er Bing breaks down with volume below 2716, the aggressive shorts on the right side can short. Pay attention to changes in volume and set your stop-losses properly.
On the hourly timeframe: if Er Bing can hold above 2748, look toward 2784–2806.
On the 4-hour timeframe: if it breaks below 2716, look toward 2700–2660.
On the daily timeframe: if Er Bing can stay above 2707, there is a chance to challenge 3000. If it cannot maintain above 2707 on the daily timeframe, then Er Bing will likely fall back into the consolidation zone marked by the red arrow below and continue to trade sideways. Er Bing is actually pretty simple—there isn’t much more to say. Meeting adjourned.
$ETH
#AI股持续上涨还有哪些投资机会
Early in the morning, the “second biscuit” (Er Bing) touched the 78.6 area around 2806 from above at about dawn. Unfortunately, it couldn’t hold above 2800, then fell back into the price channel. Moreover, the price channel itself didn’t hold either—the price broke below the channel again. At this point, the price channel is resistance for Er Bing. If price can return to trading within the channel, Er Bing still has a chance to challenge the previous high. If Er Bing cannot reclaim trading within the channel, and instead pulls back and breaks below the 2711 support, then it would need to return to the consolidation range between 2646 and 2565. Whether it can go below the lower boundary of the 2565 box is unknown, but once 2711 support breaks, a move to test the 2646 support is highly likely.
If it can return to trading within the price channel, nothing much happens— the corresponding price is around 2755. If it cannot return, the risk of Er Bing pulling back is very high.
When Er Bing breaks out upward with volume above 2748, the aggressive longs on the right side can chase. If Er Bing breaks down with volume below 2716, the aggressive shorts on the right side can short. Pay attention to changes in volume and set your stop-losses properly.
On the hourly timeframe: if Er Bing can hold above 2748, look toward 2784–2806.
On the 4-hour timeframe: if it breaks below 2716, look toward 2700–2660.
On the daily timeframe: if Er Bing can stay above 2707, there is a chance to challenge 3000. If it cannot maintain above 2707 on the daily timeframe, then Er Bing will likely fall back into the consolidation zone marked by the red arrow below and continue to trade sideways. Er Bing is actually pretty simple—there isn’t much more to say. Meeting adjourned.
$ETH
#AI股持续上涨还有哪些投资机会
