ACT Short Selling Pressure! Price Decline Struggles to Counterattack, Are Bulls Completely Silenced?
From the 4-hour candlestick chart, ACT has been declining from a high of 0.8, and after attempting to rebound around 0.7 with no success, the price continues to go downwards, making the bearish trend evident. The short-term moving averages ruthlessly press the price down, directly declaring the bulls 'unable to turn the tide'.
What's more fatal is that the candlestick pattern consistently shows bearish candles and upper shadows, with a noticeable shrinkage in trading volume; this is not a break for the bulls, but rather the market sentiment has cooled to an extreme. The downward trend has formed, and any rebound is likely to be fleeting, making it difficult for the bulls to mount an effective offensive in the short term.
In the face of such a bearish situation, stop struggling against the market trend; going with the flow is the only way to establish a foothold. Lock onto Lao Chen, who will analyze the candlestick chart trends using real-time market data to ensure you can make the wisest investment decisions.
