The price of the pancake has continuously declined from around 109600 to 108600, forming a relatively continuous pattern of large bearish candles and small bullish candles alternating in a downtrend.
In the past few hours of fluctuations, after testing resistance above, it was quickly suppressed (as seen at 12:00 and 11:00). The DIF is below the DEA, again increasing the death cross, and the green bars continue to expand, indicating that short positions dominate in the short term.
On the daily chart, the DIF has shown a gradual downward trend, and the fast and slow lines are close, limiting the rebound strength.
Currently, the RSI(14) is operating around 44, gradually moving away from the overbought area, positioned in a neutral to weak zone, with no obvious signs of a stop in the decline.
The daily chart shows that selling pressure has begun to strengthen at high levels.
The short-term moving averages are in a bearish divergence state.
The short cycle puts pressure on prices, and the current price has consistently remained below all important moving averages, indicating a high possibility of continuing weakness.
After the morning's increase in selling volume, the market continued to shrink in volume, and subsequently entered a weak counter-trend movement. Compared to some important positions after breaking support, no signals of volume stabilization have been found, lacking bullish support.
When all technical indicators turn bearish, if 1075 does not break, then bullish.
We continue with a low bullish mindset,
Looking at 1090 and 1100 from 1075 to 1085.
Personal advice, for reference only!
