From the 4-hour K-line view, after ACT fell from the high point of 0.8, it attempted to rebound at 0.7 but failed, then continued to decline, with the bears gaining momentum! The short-term moving averages ruthlessly suppress the price, locking it directly below the moving averages, leaving the bulls almost powerless to counterattack.
What’s even more heartbreaking is that the K-line has continuously produced bearish lines and upper shadows, and the trading volume is so bleak it’s hard to look at - the market sentiment has been utterly destroyed by the bears. The current rebound can't be called a counterattack; at best, it’s a desperate struggle, and with a slight increase in volume, the bears can strike again.
The trend is set, and the decline is the main theme; every struggle from the bulls now only aids the bears. Want to learn more market analysis? Follow Lao Chen to see the truth of the market plate together!
