We reminded everyone yesterday that after the rebound, the price would further decline. Therefore, after a wave of rebound at the hourly level yesterday, the price further declined early this morning, forming a daily K-line with long upper and lower shadows, and the trading volume was slightly larger than the previous day, basically remaining flat.
The daily MA30 line maintains an upward trend, the MACD shows an increase in downward momentum above the zero axis, and the price closed below the daily MA30 line, which means the support line has turned into a resistance line. If the price closes below for three consecutive days, the daily level adjustment will continue to be prolonged.
The two daily bearish candles have wiped out more than half a month's gains. In fact, the faster it falls, the better, using the decline's magnitude to shorten the time of volatility.
There will still be rebounds intraday, but after the daily level rebound, the price will continue to move downward, with strong support around 91360.
Daily level resistance at 102900-112000-126000-134000, support at 94300-91360-87300.
The hourly level has formed a downward trend of 1 hour, currently moving in a joint downward rebound of 30 minutes to 1 hour, with a 10-minute rebound trend inside.
On the short term, one can short at 100140 and go long at 94300, valid for intraday.
From the clearing heatmap data,
The price is rising, with a small amount of large short positions waiting to be cleared in the 99650-100250 and 101200-102200 areas, and a large number of large and extra-large short positions waiting to be cleared in the 102850-109200 area.
The price is falling, with a small number of large long positions waiting to be cleared in the 95500-93500 area.
