Thursday Morning Market Outlook

The market is in a low-level consolidation phase after a sharp selloff and is currently showing a small rebound. In the short term, the market is inclined to a sideways-to-bullish pattern, but there is strong selling pressure overhead. Avoid blindly chasing the rally; the main approach is to buy on pullbacks at support and take short positions when facing resistance.

In the short term, the moving averages are turning upward. The coin price is holding steadily above the short-term moving averages, and the market is entering a bullish repair phase in the short run. The MACD’s two lines are about to form a golden cross at low levels; bearish momentum is gradually fading. The short term has rebound momentum, but a strong bullish trend has not been established yet.

Key Price Levels Reference

Short-term support: 77200-77300
Strong support: 76600-76800, the low point that this rebound started from
Short-term resistance: 78200-78500, the starting point of the prior decline
Strong resistance zone: above 79000

Trading Strategy

If the price pulls back to the 77200 support area and stabilizes without breaking below, you may consider a light long position, targeting around 78500;
When the market rebounds into the 78400-78600 range and shows sluggish action and a long upper wick, take a light short position in line with the move, targeting a revisit to 77500.
#RWA总市值突破650亿美元 $BTC