Looking at the weekly K-line at 8 o'clock this morning, the big cake market should be stable. The most uncomfortable thing is that in the first week of July, Sandezi has been smashing the market.
In the daily K-line cycle, the big cake has been above the downward trend pressure line for more than a month. At 8 o'clock this morning, the daily K-line closed. As long as the big cake closed above 60,000, the daily K-line closed to stand firmly on the 20-day moving average.
The trend line of the 4-hour K-line cycle shows that the price of the big cake reversing the downward trend pressure line is about 59600/59500. If the market has repeated reversals here, the big cake will test below 60,000 again.
Of course, if the market is smashed because of the Mentougou compensation, and then stabilized in the 5.6--5.4 range, then the technical bottom built below 56,000 will be more solid, which is like building a house and laying the foundation. The more foundation pillars, the more solid the house will be. But I think the probability of this is small.
Most of the users of Mentougou's compensation are retail investors. They have been waiting for ten years since 2014. With the halving cycle and the halving of Bitcoin supply and the subsequent US dollar interest rate cut cycle, the market selling pressure of Mentougou's compensation may not be very large, at least not as shameless as Sandezi. But then again, Sandezi is the official. It doesn't matter what price you pay after selling out the task.
The upper pressure is 64,000, 67,000. My long position is about to get out.
