Today's position analysis:
From the daily level, NOT formed a rising wedge-shaped convergent triangle, which is a very bearish pattern. In the end, it was in line with expectations and fell below the triangle. The trading volume during this period was significantly lower than the triangle consolidation stage. At present, a K-line with volume is needed to confirm the bottom, otherwise it will continue to fall unilaterally. From the perspective of the RSI relative strength index, it is below the moving average and there is no trend reversal. The bears are dominant. We need to continue to observe the trend. Only when the RSI moving average position is broken, the trend can be considered reversed.
From the four-hour level, three pin-point rebounds near 0.013 formed a good support. If it holds up in the future, it will start a wave of shock consolidation. However, the previous wave of pull-up market left a section of FVG of 0.0105-0.013. The subsequent trend tends to fill this section of FVG, but it may not be filled completely, so the point near 0.0105 below is the end point of the range hunting.
Judging from the VRVR chip concentration area indicator, the chips are relatively dense near 0.16. This position has formed a relatively obvious pressure point at present. It is still far from the current price, but if the subsequent market breaks through, there will be no resistance all the way to 0.016.
