RED Today's market analysis: Bears are coming, short-term pullback is building momentum?

RED surged yesterday and then fell back, reaching a high of around 0.85, but showed volatility at the end of the session, indicating that the market's short-term bullish momentum has weakened. From a technical perspective, RED's short-term gains were too rapid, and a pullback is needed; today is expected to mainly feature a fluctuating decline, and high short positions may be a better choice.

Technical analysis: Bearish signals appear

Candlestick structure: High position stagnation

RED surged yesterday, but faced significant pressure around 0.85, multiple attempts failed, forming a short-term double top pattern.

Daily level shows a candlestick with an upper shadow, indicating increased selling pressure above, bulls begin to hesitate.

Moving average indicators: Short-term divergence is too large

MA7 (white line) current support around 0.72-0.74, and the price is far from the moving average, indicating increased short-term adjustment risk.

MA30 (yellow line) support at 0.65, if it breaks below 0.72, it may retest the range of 0.68-0.65.

Resistance and support

Short-term resistance levels: 0.8400 (yesterday's high), 0.8500 (strong resistance)

Short-term support levels: 0.7800 (first support), 0.7200 (strong support)

Important support: 0.7000 (if broken, bears accelerate)

Today's short selling strategy

Strategy 1: Short on rebound

Entry for short positions: light short in the range of 0.8200-0.8300

First take profit level: 0.7800 (200 points of space)

Second take profit level: 0.7500 (300 points of space)

Stop loss level: 0.8500 (to prevent strong surges)

Strategy 2: Chase shorts on breakouts

Breaking below 0.7800 can add to short positions, target 0.7400, stop loss at 0.8000.

If it breaks below 0.7200, hold short positions and pay attention to support around 0.7000.

Summary

RED faced resistance at 0.85 and fell back, short-term gains were too rapid, adjustment is expected today.

In terms of operations, primarily short positions on rebounds at 0.8200-0.8300, target 0.7800-0.7500, stop loss at 0.8500, strictly implement risk control. The short-term market is still adjusting, be cautious with chasing highs, and respond with a high short strategy. #RED #KaitoX账户被盗 ###比特币反弹 #BNBChainMeme热潮 #KaitoX账户被盗 $RED $BTC $ETH