Today's Market Analysis
Recently, the K line has shown a significant downward trend, with prices unable to achieve an effective rebound after falling from high levels.
From the daily chart, the continuous appearance of bearish candles indicates heavy selling pressure in the market.
Currently, both the DIF and DEA indicators are negative, but the MACD histogram is gradually shortening, which may indicate that bearish momentum is slowly weakening.
The RSI indicator is close to the neutral zone; it had previously entered the oversold area, and as of now, it has yet to provide a clear directional signal.
Looking at the moving averages, the 7-hour EMA is below the 30-hour EMA, and the 120-hour EMA is far above the current price, all of which indicate that the market is still in a downward trend in the short term.
Intra-day trading suggestions are to follow the trend and short on rallies; everyone must ensure proper risk protection measures!
The following trading ranges are for reference only:
If the price approaches around 95000, consider shorting, targeting 92000;
If the price touches around 91500, consider going long, targeting 93500.
Wishing everyone good luck!
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