The big pie conducts technical analysis from the 4-hour level, providing a clearer insight into market trends.
During the Asian session, the price once dipped and touched the middle Bollinger Band support level. Subsequently, although a technical rebound occurred, its strength was weak.
When the price approached the middle band, it encountered strong resistance, indicating that the middle Bollinger Band has a strong suppressive effect on the current price.
If the price effectively breaks below the middle band support, according to the operational rules of the Bollinger Band indicator, the next target will likely look towards the lower band.
Looking at the K-line pattern, it currently shows a clear dark cloud cover pattern.
In K-line technical analysis, the dark cloud cover pattern is an important signal of a market top, indicating that the market trend may shift from bullish to bearish. The occurrence of this pattern further corroborates the current strong bearish forces in the market.
Meanwhile, the MACD indicator continues to expand below the zero axis, with the fast and slow lines in a bearish arrangement, and the green energy bars continually increasing, showing that the market's bearish momentum is still being released, clearly in a bearish trend in the medium to short term.
