Midday Review

The Bollinger Bands on the 5-minute candlestick chart are about to tighten, and price volatility is gradually decreasing. If buying pressure cannot effectively support, the market is likely to open a downward channel, bringing short-term pullback pressure.

The 15-minute RSI indicator has gradually risen from the oversold zone to the normal buying and selling range, indicating that the momentum of buying in the market is weakening, and the sustainability of the bulls remains to be seen.

The 1-hour candlestick chart shows a clearer signal, with the current K-line touching the upper band and remaining red, indicating that the price may face a pullback pressure, and a short-term correction is more likely.

From the analysis of multiple dimensions and various levels of candlestick charts, the sell signals are clear, and the market is entering a trend of correction and decline. This is the right time to adjust positions and follow the trend.

Trading Strategy:

It is recommended to short around 77,100, with a target set at 76,000, and a stop-loss at 77,700. This strategy is suitable for short-term trading, focusing on the trend changes of the Bollinger Bands and the further response of the RSI.