3.5 Double Bottom Analysis



The double bottom quickly retreated after rising to 2201, effectively breaking below the short-term MA7, which has turned downward and formed a death cross with the MA30. Short-term bullish momentum has clearly weakened. After a long upper shadow at a high level, it closed consecutive bearish candles, indicating very weak rebound strength. The current price repeatedly tests the key support level, with no volume support for the rebound. The KD indicator is hovering at low levels but has not formed an effective golden cross. Market sentiment is bearish, and selling pressure continues to be released.

The short-term rebound is seen as a trap for late buyers. If support is lost, further downside space will open. The first target is around 2060; if broken, the next level to watch is the 2000 integer mark.

Trading suggestion: 2150-2180 range, target 2060-2000.
GT3,52%
BTC1,1%
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