#alpine Recently, this wave of market has surged from 0.96 to 2.57, doubling quickly, but the heights bring chill. After the surge, several consecutive bearish candles have come down, and the price is now unstable, only able to hover around 2.20.
In terms of strategy, we continue to be bearish:
After the surge, a pullback: The resistance around 2.5 is very strong, and several rebounds have failed to break through, indicating that the buying power has exhausted.
Indicators turning weaker: Momentum has clearly weakened, and the trend line is starting to turn, which is usually a sign that the market is going to correct.
🚀 The upward momentum is weak, and a pullback is highly probable. In the short term, the market is likely entering a pattern of surge and pullback + probing the middle track, suitable for light short positions, with the initial target at 2.00, and further potentially probing down to 1.80.
