7.17 market chart analysis



The “two cakes” Silk Road reference layout
Entry range: around 1870—1890
Stop-loss: above 1900
First target: 1840, second target: 1800

For the rebound Silk Road: directly look for high price resistance to sell; all moving averages are pressing down over the price. The downward channel has already opened. The “two cakes” volatility is higher than the “big cake”; when the overall market is weak, it falls even more aggressively, making it very hard to independently pull up and turn strong.
Each rebound has “selling to escape” (capital run). Both the short and long moving averages have all turned downward; price has been kept below the moving averages. Every time price touches a moving average, it sells off. There is no new capital coming in now; this current rebound is only a small pullback within the sell-off trend. It is not a reversal and not a stop to the sell-off. #PreIPOs第二期OpenAI认购 #USDT充值理财双重奏 #ETH站稳1900美元
BTC-2.43%
ETH-4.37%
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