* The 1-hour chart shows that after a strong rally on March 23rd, the current price is in a correction phase. Recent candlesticks are bearish lines with closing prices gradually declining, indicating increased short-term selling pressure. The candlestick at 08:00 on March 24th is a bearish line with a long body, closing at a low level, confirming short-term weakness.
* The daily chart shows a bullish candlestick with a solid body appearing on March 23rd, accompanied by massive volume, engulfing the declines from previous days, establishing a strong daily-level rebound. The current March 24th candlestick is a small bearish line, showing intraday correction.
2. Technical Indicators:
* MACD (1-hour): DIF line and DEA line remain above the zero axis, but the DIF line has started to decline and is approaching the DEA line, with MACD histogram continuing to shrink, indicating that short-term upward momentum is weakening and a death cross may be forming soon.
* RSI (1-hour): RSI value has declined from the previous overbought zone (above 60) to 55.25, suggesting that short-term overheated sentiment has been relieved and the market is undergoing healthy consolidation.
* EMA (1-hour): Price has fallen below the short-term EMA7 (2149.52), with EMA7 currently acting as short-term resistance. Price is currently above EMA120 (2131.99) and EMA30 (2120.50), which may provide support during this correction. The overall EMA system remains in a bullish alignment, with medium to long-term trend biased upward.
3. Trading Volume:
* The 1-hour chart shows significant volume expansion during the rallies and declines at 19:00 on March 23rd and 01:00 on March 24th. Current correction phase shows relatively shrinking volume, indicating that selling pressure has not reached panic-selling levels, leaning more towards healthy consolidation.
* The daily chart shows the rally on March 23rd accompanied by massive volume, confirming the validity of the uptrend.
【Aunt Tai Early Market Trend Analysis】
1. Candlestick Pattern:
* The 1-hour chart shows that after a strong rally on March 23rd, the current price is in a correction phase. Recent candlesticks are bearish lines with closing prices gradually declining, indicating increased short-term selling pressure. The candlestick at 08:00 on March 24th is a bearish line with a long body, closing at a low level, confirming short-term weakness.
* The daily chart shows a bullish candlestick with a solid body appearing on March 23rd, accompanied by massive volume, engulfing the declines from previous days, establishing a strong daily-level rebound. The current March 24th candlestick is a small bearish line, showing intraday correction.
2. Technical Indicators:
* MACD (1-hour): DIF line and DEA line remain above the zero axis, but the DIF line has started to decline and is approaching the DEA line, with MACD histogram continuing to shrink, indicating that short-term upward momentum is weakening and a death cross may be forming soon.
* RSI (1-hour): RSI value has declined from the previous overbought zone (above 60) to 55.25, suggesting that short-term overheated sentiment has been relieved and the market is undergoing healthy consolidation.
* EMA (1-hour): Price has fallen below the short-term EMA7 (2149.52), with EMA7 currently acting as short-term resistance. Price is currently above EMA120 (2131.99) and EMA30 (2120.50), which may provide support during this correction. The overall EMA system remains in a bullish alignment, with medium to long-term trend biased upward.
3. Trading Volume:
* The 1-hour chart shows significant volume expansion during the rallies and declines at 19:00 on March 23rd and 01:00 on March 24th. Current correction phase shows relatively shrinking volume, indicating that selling pressure has not reached panic-selling levels, leaning more towards healthy consolidation.
* The daily chart shows the rally on March 23rd accompanied by massive volume, confirming the validity of the uptrend.