The 1-hour chart of $NEWT completely exposes the ruthless intentions of the bears!
Today, the price directly plunged through a depth of 13.9% from the high, leaving people stunned. Although the latest candlestick rebounded by 1.13% to 0.4555, the overall technical picture is a death arrangement— the price is tightly pressed and unable to move by all moving averages.
The MACD green bars are still expanding underwater, and this indicator clearly tells you that the bears have not finished unloading! The most ironic thing is that the KDJ's J value just brushed against the oversold area of 38.3 and was pushed back down; the so-called oversold rebound can't even produce a golden cross.
Currently, if the key psychological barrier of 0.45 is broken, it will definitely trigger a panic sell-off, and the resistance at the 0.46 level has already formed a solid ceiling.
The operating suggestion is extremely simple: as long as there is a rebound to the 0.458-0.462 area, open a short position directly. If the spot position exceeds 30%, you must cut the position immediately! Don’t fantasize about any oversold rebound; this is clearly a planned massacre by the main force.
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