Today's technical analysis

1. Moving average system

  • Both the short-term MA7 and medium-term MA30 are in a bullish arrangement, with the price far above MA30, indicating that the trend remains strong in the short term.

  • Although MA100 is still below, a strong breakout in the short term may attract more buying.

2. K-line patterns

  • Yesterday's K-line showed consecutive bullish candles accompanied by long bodies, indicating that bullish forces dominate the market.

  • The current price is around 0.8681, with certain resistance levels above (previous high 0.8821). If this area cannot be effectively broken today, bulls may take profits, leading to a temporary price pullback.

3. Volume analysis

  • The trading volume surged sharply yesterday. If the volume cannot continue to follow today, it may face a risk of a pullback after a rise.

  • A decrease in trading volume indicates a weakening market momentum, and caution is needed for potential consolidation adjustments.

4. Bollinger Bands

  • The price has reached near the upper band of the Bollinger Bands, indicating that there may be overbought pressure in the short term.

  • If the upper band is broken, it may open up further upward space; conversely, if it cannot stabilize, it may pull back to the midline (around 0.7400-0.7500 area).

5. Yesterday's market trends

  • MOVE surged significantly yesterday. If the price fails to form a new high and stabilize (above 0.8821), today may see a pullback after a rise or a consolidation adjustment.

Today's operational suggestions

Short strategy

  • Entry point: 0.8700-0.8800 (if the price rebounds and is resisted near the previous high)

  • First take profit level: 0.8300

  • Second take profit level: 0.8000

  • Stop loss level: 0.8850

Long strategy

  • Entry point: 0.8000-0.8100 (if the price adjusts and stabilizes in the support area)

  • First take profit level: 0.8500

  • Second take profit level: 0.8700

  • Stop loss level: 0.7900

The current price is at a strong resistance area. If it cannot break through 0.8821, it may trigger a long position liquidation, leading to a price pullback to the 0.8000 area. If the price pulls back to the support area and stabilizes (Bollinger Band midline or MA30), the bulls may regain strength and push the price to test the 0.8700-0.8800 area again. It is recommended to prioritize short positions, but adjustments should be made based on the actual market conditions.

Understanding market rhythm is the beginning of controlling wealth! Follow Lao Tan closely, lay out in advance, and let the next peak belong to your account! Keep an eye on Lao Tan, and don't let opportunities slip away!
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