Current trend analysis
Current price: 10.36
4-hour chart: The previous strong bearish trend broke through the BOLL lower band (lowest 9.043), followed by a V-shaped recovery, but currently under pressure from the mid-band, with the price hovering below the BOLL mid-band.
1-hour chart: The Bollinger Bands are clearly narrowing, and the price is consolidating near the mid-band. The short-term EMA moving averages are entangled, indicating a consolidation state.
Technical indicators:
SAR turns bullish (support around 10.16)
The moving average system is entangled, and the price is between EMA10 and EMA20, with an unclear direction.
Bollinger mid-band at 10.42, with clear pressure from the short to medium-term moving averages.
Strategy suggestion (based on candlestick patterns and structure)
The current market has entered a narrow range of oscillation, but judging from the trend since June 6, the downward momentum has nearly run its course, and is in a stage of repair and accumulation, leaning towards a short-term upward probe.
Predicted direction: Slight upward oscillation
Operational plan
First support level: 10.58
Second support level: 10.66
Support level: 10.12
