December 29

Based on the current candlestick structure, moving average patterns, and price volatility characteristics, the asset is in a deep correction phase after a short-term rally of 1–3 days at a short cycle level. There are signs of a weak rebound after the bearish momentum is released, but overall the trend remains bearish. Attention should be paid to the effectiveness of key support levels and the pressure during the rebound.

Previously, a volume-driven long bullish candle pushed the price rapidly from 2922.84 to 3056.00, forming a short-term peak pattern, typical of a "sharp rise and sharp fall" trend. After the bullish momentum was quickly exhausted, a bearish rebound occurred. Following the peak, large bearish candles broke through support levels, with sizable bodies and deep declines, accompanied by consecutive green K-lines, indicating that the short-term market is dominated by bears. Recently, the candlesticks have smaller bodies with lower shadows, suggesting that bottom-fishing funds are entering at low levels, entering a brief phase of bullish and bearish competition.

The short-term moving averages are turning downward rapidly. The price fell below the medium-term moving average and failed to rebound above it, with the moving averages exerting resistance on the price, indicating a weak correction characteristic. The indicator lines below are at low levels, showing signs of turning but not yet forming a clear reversal. Despite short-term oversold conditions, no trend reversal signals have appeared.

Short-term, it is recommended to revisit the 2930–2905 level area, with a light position for buying, targeting the 2990–3030 area.

The above is only personal advice for reference and does not constitute investment advice.