After the first confirmation of the oscillation top, we are currently testing the bottom of the first oscillation range, using relevant oscillation data to analyze a wave:
1: Positions Start to Decrease: Long traders who chased high prices begin to stop-loss and exit, while late-entry short traders start to take profits and exit;
2: Long-Short Ratio: It has recovered from the level of 0.7 to 1.4, indicating that the main force of the oscillation has entered the phase of taking profits on short positions and gradually buying long positions;
3: Liquidation Data: The major currency has pulled back about 10 points, with 1.3 billion long positions liquidated across the network;
4: Order Book: Based on the data from last night’s test of 90,000, a large buy order will be triggered around 90,000;
Summary: The oscillation top of this wave is 99, and the oscillation bottom is currently being tested. Based on the data from this pullback process, the first entry position for emotional longs will be above 98, and the second entry position will be at 95. Considering the position data and the decline, those who opened long positions in the first wave have either stopped loss or been liquidated. Judging from the past oscillation ranges, between 85-88 will be a relatively safe oscillation bottom range;
