7.23 Jack afternoon break, two bings big plate analysis

Before the plate, after the early surge hit the 1958.75 high point, the upward momentum gradually faded, and the market slowly shifted into a downtrend channel. Since the price pulled back from the high point, the overall focus has kept moving lower, and the market has repeatedly been suppressed by the moving average system.
In the middle, although there were multiple rebounds and repair moves, the rebound strength was limited. It’s difficult to continuously break through the pressure level upward; it only serves as a temporary consolidation during the decline. Currently, the price is trading in a range around 1920.

Next, pay close attention to 1914.48, the support at a prior low point. If this support is effectively broken, the downstream downside room will open further. To change the current weak situation, the price first needs to hold above the moving average pressure band and form a sustained rebound trend.

At this stage, the overall market is biased to the weak side and is not suitable for an aggressive contrarian bet on a rebound. You can keep monitoring the gains and losses of key supports, and patiently wait for the market to show a clear and effective bottoming signal before making further considerations. #以太坊