We can see that the second attempt of the big cake to break through the previous high was suppressed by the kongtou, and the price was pushed back below 68,000 again. After the combination of K-line, it is obviously a pinbar, which just makes up for the peak signal we mentioned yesterday. In this way, the daily line will usher in a large-cycle downward trend again.
After the false breakthrough of the previous high in the medium term, it immediately drew a door and smashed it down, directly giving a guillotine bearish signal. Although the current position is supported by the lower support to stop the decline, in terms of strength, the duotou may have no room for the kongtou to struggle. After the kongtou completes the shock consolidation, it is likely to continue to smash the market. The current favorable exit may not be a good thing for the duotou.
In the short-term trend, due to the oversold behavior caused by this wave of rapid decline, many duo chasing players have been liquidated. At the same time, the medium-term has also reached a more critical support level, so it is expected to usher in a short-term rise during the day, and the correction after the decline has been completed. We see that the market has indeed walked out of the micro-bottom bullish structure. For the sake of safety, I prefer to wait for the opportunity to make a kong after the correction is completed.
Big cake: around 67500-67800, looking at 65000
Second cake: around 3360-3380, looking at 3230
