7.18 Saturday early morning

Big pie yesterday surged to the 65588 area, then slipped back in a stair-step pullback all the way down. The daily chart continued with consecutive long red/black days, dropping further; the “rabbit head” structure has basically been confirmed as the short-term main tone. Price bottomed out at 62655. The earlier “rabbit jump” first target was successfully hit. At present, the market is trading narrowly around 62700 early on, and performance is weak.

On the chart, the short-term moving average system keeps diverging downward, repeatedly suppressing the rebound. Several attempts to bounce back within the range lacked momentum to back it up. “Whale head” buying on the order book is clearly insufficient, and rebound intent is weak. As overhead sell pressure gradually shifts lower, the 63000-63200 range has changed from a prior support area into a short-term key resistance band, making a breakout above it difficult.

On the 4-hour timeframe, the MACD fast and slow lines are still dead-crossing and diverging downward, and there’s no obvious sign that bearish momentum has exhausted. The current low-range consolidation is more inclined to be a downside continuation rather than a stabilization signal. Although technical indicators have entered the oversold zone, in a weak market they can stay “dull” for a long time too. Chasing a bottom is high-risk, so patience is needed.

Suggested strategy:
Big pie: place short entries on a rebound to the 64600-65100 area,
Lower targets: 63200-62700;
Ether (ETH): place short entries on a rebound to the 1870-1910 area,
Lower targets: 1810-1770.
#PreIPOs第二期OpenAI认购