The large pancake and Ethereum experienced a strong rebound at midnight, but the continuation momentum in the morning is not good, and the overall situation is still in a range-bound oscillation pattern. This tug-of-war slow oscillation is not a trend reversal signal, and the bearish trend has not changed at all.
In the short term, the Bollinger Bands are starting to narrow, with prices repeatedly contesting between the upper and lower bands, which is also a secondary confirmation process for the high point of wave B. The short-term back-and-forth tugging is actually building momentum for a subsequent unilateral trend.
From the analysis of the weekly and daily candlestick patterns, it is more inclined to further break down and adjust after consolidation, opening up downward space.
