Long-term trend

It seems that it has become a common practice for everyone in the industry to trade sideways on Fridays and Saturdays. This weekend is no exception, with two consecutive days of small doji stars. The interpretation of such a market is nothing more than the main forces of both long and short positions enjoying a comfortable weekend, leaving retail investors to argue on the battlefield, so the market is full of talk but lacks firepower. What needs attention is actually the spinning top formed last Friday. Yes, it is not a bottom signal, so it cannot be regarded as a sign of a reversal. For the current long-term market, we do not need to change any views. As mentioned in the previous video, we should patiently focus on the final outcome of the battle to defend the 41130 bull-bear line.

Medium-term trend

In the previous video, we mentioned that the medium-term trend still indicates that the decline is not over yet. We hoped that the price would stay below the bull-bear line on Friday and enter a consolidation phase over the weekend. However, the bulls delivered a large bullish candle early on Saturday morning, which truly brought uncertainty to this week's market. Despite heavy resistance above, the resistance below the high of 43589 is not strong enough. Personally, I have a more bearish attitude towards the medium-term trend, but there is no reliable technical basis to refer to. Retail investors can argue with each other, but it is not advisable to enter the market. We need to wait for the main forces of both long and short positions to further clash and then assess their strength before taking sides.

Short-term trend

According to the views expressed in the previous video, we expected the price to trade sideways in the short term and wait for the appearance of a consolidation structure until Sunday afternoon, when it seemed that the price was forming a descending flag pattern. Therefore, the plan was to expect the price to touch the 41130 bull-bear line again after breaking through the lower boundary. However, after a night of evolution, we found that the price was still consolidating around the lower boundary, and there was no substantial breakdown behavior, indicating that the long and short positions were equally weak in the short-term market. Many people asked me if the prolonged consolidation had caused the flag pattern to fail. Considering the breakdown point, it is indeed valid to look bearish after the flag pattern breaks down. Although it has to be said that the prolonged consolidation without a decline has indeed disrupted the structure, the direction is the direction. Just like the logic in the medium-term, we also need to patiently wait for the return of bearish momentum in the short term.

Patience is the first digit of the wealth code. Welcome to join the Rabbit Community.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。