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Currencies~wealth

· 05-24 15:17

Yesterday's market showed a relatively strong sell-off trend. We mentioned yesterday: currently, the main focus is to identify whether the pullback will form a reversal pattern, and whether it will experience a sharp decline. Only when it slowly descends to the short-term support level can we continue to go long. Conversely, if there is a rapid decline, the upward trend will end, leading to a swing trading pullback. The market experienced a rapid sell-off last night, rebounding until early morning and then continuing to decline into today. Will it continue to go lower today?
The market declined on Monday to reach the lower band of the ascending channel at 102000 and then rose continuously again, extending the weekly rise from April. When it reached the upper band of the ascending channel near 112000, it declined again. Based on the trend from yesterday to this morning, there will be a short-term rebound. A short-term breakthrough above 108500 will only see a rebound reaching the range of 109200-109800 during the day. Upon reaching the pressure zone, we can take the opposite position. However, pay attention to the short-term pressure at 108500, which has not been broken through for a long time. The market will need to descend to the lower band at around 105000 to set up for a rebound.

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LuckyMammon

· 05-24 06:17

Yesterday, the market exhibited a relatively strong sell with bearish market trend. We indicated yesterday: Currently, the main identification is whether the pullback forms a reversal pattern and whether it shows a sharp fall. Only when it slowly declines to the short-term support level can we continue to go long. Conversely, once there is a rapid sharp fall, the upward trend will end, leading to a swing trading pullback. The market experienced a rapid sell with bearish market trend last night, rebounding until the early morning before continuing to decline to this morning. Will it continue to go lower today?
The market declined to the lower band of the ascending channel at 102000 on Monday, then rose consecutively, continuing this wave of weekly rise in April. When it reached the upper band of the ascending channel around 112000, it declined again. From the trend from yesterday to this morning, a short-term rebound is likely. If it breaks through 108500 in the short term, it will rebound to the range of 109200-109800 during the day. Once reaching the pressure zone, one can take the opposite position to short, but pay attention to the short-term pressure at 108500, which has not been broken through for a while. The market must decline to the lower band at around 105000 to set up for a rebound.

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Ryakpanda

· 05-24 02:00

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GateUser-5103124e

· 05-24 01:27

Steadfast HODL💎

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SmartWinTheWorldRobot

· 05-24 01:27

Quick, enter a position! 🚗