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From the latest 4-hour chart, the trend has already given a clear signal.
The price has been continuously blocked below the two moving averages, MA144 and MA169, with a clear suppression effect. Although there was a slight rebound in between, it was not strong enough to break through the constraints of the moving averages, and the overall trend remains weak.
In simple terms, the bears are taking the initiative. The short-term rebound looks more like a trap to lure in buyers, and the downward pressure is still being released.
Personal opinion:
You can consider placing short positions in the range of 91750-92000, with a target around 91000.
Similarly for the second pancake, short in the 3050-3070 area, targeting 3020.
Of course, it still needs to be adjusted based on the real-time market conditions. In this market, controlling your position is more important than anything else.
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