Currently in the two-biscuit pattern, bears dominate, rebounds are weak, and geopolitical risks loom. Over the weekend, the US-Iran conflict triggered a risk-off sentiment, causing the two-biscuit to plunge directly. Technical indicators were completely crushed by emotional trading.
After the easing of tensions, a weak rebound occurred, but it was only a correction, not a reversal. The monthly chart shows a volume-driven decline, which is a clear sign of selling pressure. The larger-term bearish trend is confirmed, with no signs of stabilization. The rebound is just a high-altitude shorting opportunity.
Trading suggestion: Short around 2010-2040, with a target of 1940-1900, and a break below 1840.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Currently in the two-biscuit pattern, bears dominate, rebounds are weak, and geopolitical risks loom. Over the weekend, the US-Iran conflict triggered a risk-off sentiment, causing the two-biscuit to plunge directly. Technical indicators were completely crushed by emotional trading.
After the easing of tensions, a weak rebound occurred, but it was only a correction, not a reversal. The monthly chart shows a volume-driven decline, which is a clear sign of selling pressure. The larger-term bearish trend is confirmed, with no signs of stabilization. The rebound is just a high-altitude shorting opportunity.
Trading suggestion: Short around 2010-2040, with a target of 1940-1900, and a break below 1840.