Market Review: Early this morning, the price pulled back to around 68,500. The bulls showed weakness and began declining to around 67,500 where it stabilized. This aligns perfectly with our early bearish outlook, and we caught a clean short at around 68,500. We exited with nearly 700 points of profit. Currently, the price has returned to around 68,000.
Although some short-term indicators may show signs of golden crosses or upturns due to oversold conditions, this is more of a corrective signal within the downtrend continuation rather than confirmation of a trend reversal. In a bearish trend, indicator recovery typically occurs through consolidation or weak rebounds, after which the decline will resume in the original direction.
Operational Recommendation: Around 68,600, consider staggered positioning of short orders. Stop loss can be set above 69,000 to guard against low-probability breakout risks. First target level: 67,500#Gate13周年全球庆典
Market Review: Early this morning, the price pulled back to around 68,500. The bulls showed weakness and began declining to around 67,500 where it stabilized. This aligns perfectly with our early bearish outlook, and we caught a clean short at around 68,500. We exited with nearly 700 points of profit. Currently, the price has returned to around 68,000.
Although some short-term indicators may show signs of golden crosses or upturns due to oversold conditions, this is more of a corrective signal within the downtrend continuation rather than confirmation of a trend reversal. In a bearish trend, indicator recovery typically occurs through consolidation or weak rebounds, after which the decline will resume in the original direction.
Operational Recommendation: Around 68,600, consider staggered positioning of short orders. Stop loss can be set above 69,000 to guard against low-probability breakout risks. First target level: 67,500#Gate13周年全球庆典