Today's technical analysis
1. Daily chart observation:
Moving average analysis:
MA7: Current price at 4.2444, short-term 7-day moving average at 4.2755, price below the moving average indicates that the short-term is still in a weak adjustment.
MA30 and MA100: The 30-day moving average (4.4196) and the 100-day moving average (4.4359) show a bearish arrangement, and the price is below both, indicating strong resistance above.
Candlestick pattern:
Yesterday's candlestick showed a bullish line with a lower shadow, indicating weak bearish attempts and a bullish counterattack.
Today's opening price is slightly higher than yesterday's closing price; if it continues to hold the support at 4.22, the bulls may further test.
MACD indicator:
The DIF and DEA dual lines continue to run below the zero axis, and the bearish momentum bars have weakened, indicating that the short-term downward momentum is dissipating, but no obvious reversal signals have appeared.
2. 4-hour chart observation:
Moving average system:
MA7: Short-term price attempting to stabilize around 4.22, but multiple attempts to break through MA7 have failed, indicating weak bullish strength in the short term.
MA30 and MA100 are in a bearish arrangement, and MA30 (4.30) has become a recent resistance level above.
Bollinger Bands:
The lower Bollinger Band (4.20) provides solid support, with price testing it multiple times without breaking below.
The middle band resistance level is at 4.30, the overall opening of the Bollinger Bands is slightly narrowing, indicating that it will enter a consolidation phase in the short term.
RSI indicator:
The RSI indicator is currently at 46, showing a trend of oscillating downward, indicating that market sentiment leans toward bearish.
Today's operation suggestions
Short-term operations:
Entry points: Try shorting in the range of 4.25 ~ 4.28
First take profit point: 4.20
Second take profit point: 4.15
Stop loss point: 4.31
Although there were bullish attempts to counterattack yesterday, the strength was weak, with multiple tests of 4.30 in the 4-hour chart failing, and the moving average system still in a bearish arrangement, indicating a continued bias toward oscillating downward in the short term. However, due to the narrowing of the Bollinger Bands, the price may maintain oscillation and consolidation between 4.20 ~ 4.30, suggesting to adjust positions based on actual trends.
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