The daily line is precarious; can the bulls win this last battle?
Daily line level;
1. Within the market of the moving averages, the convergence pattern has now reached a critical point, with a trend change expected next week. This week we mainly observe whether the bottom range can be firmly established;
2. The Bollinger Bands have experienced three peaks and three troughs, essentially compressing the amplitude to the extreme. The upper and lower bands only have a 7% amplitude, indicating that a market change is imminent. Thus, if we return to the mid-band or above it this week, it will be conducive to initiating the fourth peak hunt, potentially breaking the consolidation range with a strong bullish candle;
3. Within the volume range, through VR analysis, it can be seen that the pullback here has not led to an increase in volume; the bottom remains primarily based on turnover. Therefore, the market needs consecutive bullish days to establish above 106500 before proceeding to the next bottom range. Although the OBV price has slightly pulled back, the volume increase has not been indicated, suggesting that a breakthrough is currently not feasible. It is essential to stabilize at key positions before attempting a breakout. The remaining time this week needs to focus on observing the price position;
4. In the momentum trend, consecutive bullish days are necessary. If they do not occur, both the RSI and MF will remain in a fluctuating direction; currently, the CCI is still in the 0-100 range, indicating that the fluctuating market is not over. To make any upward attack, it must break above 100; 5. Within the Ichimoku logic, as of the 17th, there has been a collision with the cloud, and after three days of consolidation near the cloud, many short-term traders have been cleared out. Today we see a pullback, but we still need to observe whether it can return above 106500. Only upon returning over the weekend will we see a trend that pushes towards the 108000-109000 range; simultaneously, the current cloud at the terminal is still moving in a parallel range, indicating that the bulls have not performed well. We must first look at the closing situation;
In summary: The daily market is becoming increasingly precarious for the bulls, but as long as the bottom range is defended, a violent pullback is still forthcoming.
It’s better to enjoy together than alone; if you reach out, I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
