$CELO
In the early period, prices fell steadily for a long time. Then suddenly at a low level, trading volume expanded sharply and the price surged on heavy volume.
After a rebound wave, the market began to trade sideways in a choppy range. The RSI indicator is close to 60, and bullish momentum has gradually weakened.
The supply of trapped shares overhead is heavy, so the upside rebound space is limited. Most likely, the price will rally into resistance, then pull back.
The primary strategy is to set up short positions in line with the trend.
From my perspective, this rebound is a short-term corrective move after an oversold decline, not a full-fledged reversal upward.
There is a large amount of previously accumulated trapped shares overhead; as soon as the price moves higher, the potential for profit-taking and de-trapping selling pressure will surge.
Even if the price makes a modest push higher in the short term, it is likely a bull trap.
Watch for a short-term slight rally to shake out short sellers; use a light position and build short positions in batches.
In the early period, prices fell steadily for a long time. Then suddenly at a low level, trading volume expanded sharply and the price surged on heavy volume.
After a rebound wave, the market began to trade sideways in a choppy range. The RSI indicator is close to 60, and bullish momentum has gradually weakened.
The supply of trapped shares overhead is heavy, so the upside rebound space is limited. Most likely, the price will rally into resistance, then pull back.
The primary strategy is to set up short positions in line with the trend.
From my perspective, this rebound is a short-term corrective move after an oversold decline, not a full-fledged reversal upward.
There is a large amount of previously accumulated trapped shares overhead; as soon as the price moves higher, the potential for profit-taking and de-trapping selling pressure will surge.
Even if the price makes a modest push higher in the short term, it is likely a bull trap.
Watch for a short-term slight rally to shake out short sellers; use a light position and build short positions in batches.