7.17 in the evening, let’s take a look at the “pan level.” In the evening, U.S. stocks opened lower across the board, the technology sector weakened across the board, and bearish sentiment from “duo zhong li kung” spread into the “pan level.” It quickly probed lower, dipping to a low at 625, and then saw a sharp rebound; it is currently around 634.

From the Bollinger Bands trend, it’s clear that after the major drop reached the lower band, a strong rebound followed. This rally is only a short-term repair and has not completely reversed the overall weak momentum.

After the short-term rebound, the rebound momentum is not strong enough. There is ample sell pressure in the resistance zone overhead, so the overall late-evening approach is still mainly about rebounding and continuing to “short the top” at higher levels.

Trading plan:
Rebound to 638-643 to lightly build positions for “shorting the top.” The first target is to look back to 628. If 628 is lost, it will once again test the intraday low of 625. After a breakdown, we will continue to look lower toward 618. Our swing target is 555—just one opportunity away $BTC $ETH #GateDEX全面接入RobinhoodChain