Long time no talk about #DEGO📈
1. Overall Analysis
Recently, the price has shown a downward trend, especially after March 27, where the decline accelerated, and the current price is operating near the lower Bollinger Band, indicating strong selling pressure in the market.
In the short term, due to the latest candlestick being a shooting star, combined with the BOLL indicator showing strong bearish forces in the market, the price may continue to operate in a downward trend. The rebound strength in the near future remains insufficient, and there is a risk of further decline.
Suggestion: Given that the current downward trend in the market has not been effectively reversed, it is advised that investors remain cautious and adopt a wait-and-see attitude to avoid blindly bottom-fishing. Furthermore, if there are short positions, consider adjusting positions in a timely manner based on the suppression conditions of the Bollinger Bands and moving average system. For those with long positions, it is recommended to set stop-loss orders at suitable times and wait for clear reversal signals before considering increasing positions or establishing new ones.
2. Technical Analysis
Candlestick Pattern: The shooting star is recent and usually signals a bearish reversal; earlier belt-hold lines and black three soldiers confirmed the downward trend, marking the acceleration of the decline after March 27.
BOLL: The current price line frequently touches the lower band, indicating strong selling pressure. The failed rebound attempts show insufficient bullish power; the overall market is in a downward trend, and the slight expansion of the upper and lower bands indicates increased volatility.
3. Potential Buy and Sell Points
Buy Point: 1.76 USDT (close to the previous low around 1.754, which may form short-term support and has rebound potential)
Long Position Stop Loss: 1.745 USDT (breaking the previous low of 1.754 confirms the continuation of the downward trend)
Sell Point: 1.805 USDT (close to the middle band of the Bollinger Bands and moving average resistance, there is a strong selling pressure risk)
Short Position Stop Loss: 1.82 USDT (if breaking the resistance level of 1.805, it indicates an increase in upward rebound strength)
In summary, the price trend cycle: Bearish
