The price is stuck at a critical position—repeatedly testing the upper Bollinger Band near $4703, with the latest price at $4696 showing a floating loss of about $106 on the short position at $4590. The Bollinger Bands show a 'trumpet' shape (upper band 4703/mid-band 4642/lower band 4580), which often indicates a short-term reversal. Although MACD has a golden cross, the red bars are shortening, indicating weakening bullish strength; KDJ's J value has surged to 90, indicating severe overbought conditions and an increased probability of a pullback. However, the委比 shows that buy orders are dominant (+0.63%), and we must beware of false breakouts that lure shorts.
Optional strategies to cut losses:
Cut loss stop loss (must choose for heavy positions):
If the price breaks 4703 and stabilizes (with K-line closing above for 1 hour), immediately set a stop loss in the range of 4700-4720. If losses exceed 30% of the principal, decisively exit to preserve capital for a potential reversal trade near the 4642 mid-band.
Average down position (for those with bullets):
Average down equal short positions near 4700; the overall cost can be lowered to 4645. If it breaks 4703 and then retests the previous high support at 4670, add a second batch. Wait until the price drops to the range of 4650-4630 to close all positions to avoid losses, or even make a small profit.
Hold positions waiting for a reversal (limited to light positions):
Focus on three reversal signals: MACD high-level dead cross (DIF crossing below DEA), price breaking below the mid-band of 4642, or a sudden increase in volume with a long bearish candle (current hourly trading volume is only 149,000, needs to increase to over 800,000). Before any signals appear, set a mandatory stop loss point 2% above 4703 to prevent a spike leading to liquidation.
Decision priority suggestion:
Account margin below 30% → Choose Option 1
Hold spare funds → Choose Option 2 (Averaging down points fixed at 4700/4670)
Position below 10% and able to monitor → Choose Option 3
Remember: cut losses to let profits run, reducing positions at 4642 is smarter than holding on stubbornly.
(Before operating, use 1% of the principal to verify direction, do not make bets on averaging down!)
