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Let's talk about the current situation,
1. Overall Analysis
Recently, the price has been fluctuating near the middle band of the Bollinger Bands, overall in a weak state. After reaching the resistance level, the price has retraced and is now approaching the lower band of the Bollinger Bands, indicating a bearish trend in the market.
In the short term, the market may experience some rebound at low levels, but due to the strong bearish forces, the likelihood of a short-term upward breakthrough seems to be low. Major trend indicators show that the market still carries further downward risk.
Advice: It is recommended to maintain a cautious attitude in the near future. If you already hold assets, consider setting stop-loss orders near key support levels to prevent further price declines. If you do not have positions, you may wait for clear rebound signals near the support level before considering short-term buying operations, but be prepared to take profits promptly if the rebound loses momentum. Overall, attention should be paid to whether the market can gain solid rebound momentum at recent support levels.
2. Technical Analysis
K-line pattern: Recently, a black three soldiers pattern appeared, consisting of consecutive bearish candles, which is a bearish signal.
MA: Both MA30 and MA120 are trending downwards, and the current price is below both, indicating that the market is in a weak position.
MFI: An MFI below 20 indicates that the market is oversold, with a clear outflow of funds.
RSI: RSI6 has quickly entered the oversold range, and the short-term selling pressure is strong.
BOLL: The price has fallen below the middle band and is approaching the lower band, indicating that the market may continue to be weak in the short term.
VR: The current VR is below average, reflecting heavy selling pressure in the market.
OBV: The OBV is in a downward trend, indicating insufficient capital inflow and weak market buying momentum.
MACD: The DIF and DEA have formed a death cross below the zero axis, supporting the recent market weakness and downward pressure.
The current downward channel has opened, and the short-term strategy remains to sell on rallies. Operation strategy: If the price fails to effectively break through 80,000 during intraday pullbacks, continue to short. Expected lower level: around 75,750, with a stop loss set at least above 81,000-80,500 to allow for a spike to hit the stop.
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