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Attention all Duojun: tonight might be your last chance to escape the top.
After yesterday’s surge in the big coin, it pushed up and met resistance around the 830 area, then kept falling until today’s midday, where it found slight support around 806. It rebounded near 817, but was pressured again and pulled back. On the short term, the rebound momentum is gradually weakening, and the lows are also trending lower. The key focus is 80,000—if it breaks through that level, then this leg of the bulls’ upside move will be declared over.
This morning, we gave a long opportunity around 805. Even by the intraday high, there was only about a thousand points of room. As the short-term pace starts to fade, there’s no need to keep chasing the long. After all, the time cycle for this uptrend has already been long enough. If tonight the big coin can rebound in the 815-820 area, my personal suggestion to Duojun is to consider exiting (taking profits and running).
Next week, the yellow-haired guy will visit China, and the market will definitely see a relatively large bout of volatility. During this period, the market has also responded to various positive news—those have already been digested. Going into an excessive chase for a further rally now is clearly not appropriate. So starting today, Wukong will lock the bigger direction to the downside, with the expected range being 770-750.