Ethereum Analysis for August 21, 2023

Due to some physical reasons, I can't go to the job I just joined for the time being.
But the body adapts to the work and rest habits. Wake up at 6 o'clock every day
Then rest at home during this period, try to continue the analysis
If you are in a hurry, just look at the summary at the bottom.
long:
From the monthly chart, it is now obvious that since the fall from 4877
Currently in a 4-wave rebound period, the pressure on the middle track of the Bollinger Bands in the monthly chart has fallen
So it is very likely that there will continue to be 5 waves of decline, and 880 is not the lowest point
Remember the 690 I mentioned earlier? Said for more than a year. .
As for when this point will be reached, it is not clear. . wait
Now the 4-wave rebound is not sure whether it is over
According to the current ascending channel, the recent value is around 1230
This point increases with time, which will be discussed later.
PS: 2200 on the upper track of the ascending channel, 1705 on the middle track, and 1207 on the lower track
Middle term:
Looking at the weekly chart, the trends of Ethereum and Dabing are somewhat different here
The pie finished the 12345ABC wave and then fell
Ethereum is after 123, the high sideways fell with the big pie
My hope of rebounding around 1700-1730 and going to 21XX again fell through
The upper pressure is 1720-1790, which has fallen below the upward trend line since 1070
Before the bottom pattern appears, it is possible to continue to fall
The lower support is based on the trend line, and the recent value is estimated to be around 1400-1415
Ethereum is not as clear as the big pie. The big pie is mainly based on the daily chart MA365, and the value is 23552
Recently:
Currently in an oversold rebound or in other words, the currency price is in the process of sideways arrangement
According to the urine nature of the recent market, this time is estimated to be a bit long,
At the very least, it is not enough to walk 4 K at present, so the short-term is still the main focus in the near future
In summary:
The short-term short-term trading range is about 1610-1630 to 1700-1720
The pressure on the top is 1790, but it is a bit difficult to go there, there should be a 1745 in the middle
Maybe in the case of news in the second half of the week, I will receive the needle 1720-1745
In other time periods, you can go long or short at the points in the above intervals, with stop loss and profit taking
The near-term trend is bearish, at least for now. . best empty
If you go near 1400-1415, near 23550 of Dabing, you can place a long order
There should be a big rebound here, at least look at the top of the 1400-1600 range
If you go near 1230, you can take a bigger position and take a risk, and you must bring a stop loss
Support here, and there may be a chance to go to the top of the ascending channel. .
At that time, maybe the pie will reach above 32000, and Ethereum will go above 2100 again
That's about it this week. . .
VIP0, can't post pictures. No more pictures. .