7.22 Jack big cake afternoon analysis

Before the peak, the market was consolidating and rising, but after touching the 66399 level, upward momentum weakened and a turning point appeared; the price has continued to fall. The current price is trading below all moving averages. Several indicator lines have formed layer-by-layer resistance from top to bottom, and the downtrend is very clear. #币圈##区块链#
Although there were multiple small rebounds in the middle, the rebound strength was weak. It wasn’t able to reclaim the moving average system and is only a brief pause during the ongoing decline. Below, the prior low at 65909 is a short-term key support.
In this one-way down phase, it’s not suitable to easily set up reverse positions; the margin for error when trading against the trend is very low. It’s best to wait patiently for the market to truly stabilize, and only after it shows sustained stop-the-fall signals should you consider looking for opportunities.