Friday, April 24 Market Analysis at Noon

1-hour oscillating downward, short-term trend leaning bearish, resistance above clearly pressured, support below slightly stable.
Volume contracts, bulls and bears are balanced, overall maintaining a narrow range, limited short-term fluctuations, currently consolidating around 77,600.
Contract funding rate is deeply negative, market is crowded with bears.
A large number of retail traders are eager to short, a typical sign of a short squeeze approaching.
The weekly chart is generally in a bearish wedge correction pattern, with the previous sharp rally represented by large bullish candles caused by big funds buying in.
In the early morning, it retested the parallel high point, quickly recovered after breaking below, with large funds still supporting the 76.9k level.
A decline will only occur smoothly if a large bearish candle engulfs previous candles, breaks below the prior trend line, and the funding rate turns positive.
Macro news: The situation in the Strait of Hormuz is escalating! Iran has not only seized two commercial ships but also publicly displayed footage of aggressive actions.
Trump has ordered to shoot any Iranian vessels seen near the