Today's Market Analysis
Recently, the K-line has shown a significant downward trend with noticeable fluctuations. After a price retreat from the high, it has not managed to achieve an effective rebound.
From the daily chart, the continuous appearance of bearish candles indicates that there is substantial selling pressure in the market.
Currently, both the DIF and DEA indicator values are negative, but the MACD histogram is gradually shortening, which may signal that the bearish momentum is slowly weakening.
The RSI indicator is approaching the neutral zone; it has previously entered the oversold area, but as of now, it has not provided 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 well above the current price, all of which indicate that the market is still in a downward trend in the short term.
The intraday trading suggestion is to follow the trend and short when prices are high; everyone must implement proper risk protection measures!
The following trading ranges are for reference only:
If the price approaches around 95000, consider shorting with a target of 92000;
If the price touches around 91500, consider going long with a target of 93500.
Wishing everyone good luck!
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