Currently, there is a volume-driven decline on the 4-hour chart. It is estimated to be moving away from the initial point. The 30-minute chart should form a consolidation zone, still within a downward structure. Personal opinion: The market liquidity is poor right now. Avoid trying to catch the rebound. Currently, institutions are not entering the market, and the prolonged decline is supported by whales. Based on the current situation, 80,000 does not have the conditions for a bottom. Trading suggestion: Focus on shorting from the high, short at 88,200 for quick gains.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
12.27 Market Analysis:
Currently, there is a volume-driven decline on the 4-hour chart. It is estimated to be moving away from the initial point. The 30-minute chart should form a consolidation zone, still within a downward structure.
Personal opinion: The market liquidity is poor right now. Avoid trying to catch the rebound. Currently, institutions are not entering the market, and the prolonged decline is supported by whales. Based on the current situation, 80,000 does not have the conditions for a bottom.
Trading suggestion: Focus on shorting from the high, short at 88,200 for quick gains.