The big pie is weak with a shrinking rebound. Bulls are showing obvious weakness. The failure to increase volume upward creates a precarious situation. The massive crash last August 5 is still fresh in our minds. Many people's positions were ruthlessly taken away.
At such times, it is recommended to hold back. When the position is evenly split, avoid frequent low-value trades. Patiently wait for a clear direction before entering trades; there will still be opportunities.
Back to the market.
The big pie hasn't completed a downward volume on the 4H level, and the rebound's shrinking volume cannot bring the price back above the key level.
After the small volume has shrunk to the extreme, a round of explosive volume to choose direction will only occur once the accumulated long and short chips are sufficient.
Therefore, it’s advisable to appropriately slow down the trading pace recently. If you feel the urge to trade, just practice with small positions on lower time frames.
Recently, the US stock market has had various gaps opening high and low, and there is no clear direction for the future market, mostly high-level consolidation. The crypto sector is following the same rhythm.
In the evening, focus on whether the US stock market can break through and stabilize above the 115-116 range, as that would provide a chance for a rebound to higher positions.
If the pullback goes too deep and continues to break down, quick action is needed for shorting with timely profit-taking. Still pay attention to the daily support around 110-108. The bulls outside are still looking for opportunities to enter.
Upper pressure: 115500/116400/117200/118500/119500
Lower support: 112800/110840/109300/107500