BEAT Now around 0.97u, in 24 hours it was slashed straight in half. On the contract side, in a single day it dropped more than seventy percent. With a move like this, to put it bluntly, the previous wave was pulled too hard—now it’s just paying back the debt.
From above 3 yuan, it was hammered all the way down to 0.72 before it finally stopped. The lowest point is temporarily being held, and the price has bounced back to slightly above the short moving averages. On the contracts, the passive long/active buy side is a bit more biased toward buying. It looks like there’s a hint of stabilization.
But I won’t rush in at this level. The problem is that while the price is still falling, the contract open interest over the past 7 hours actually increased by 30%—either bargain hunters are picking up, or the shorts are adding positions; either way, the direction hasn’t been decided.
The big players also show some interesting signs: the accounts are bullish in number, but the longs vs shorts actually posted in positions are basically split 50/50. And over the last nearly 7 hours, they’re still reducing longs. That suggests large capital also hasn’t really taken a side.
So here, I’m more inclined to wait and observe. Whether the 0.72 low can hold is crucial. Don’t rush to catch the knife in the middle of a sudden crash—let the market choose the direction first.
#beat $BEAT
From above 3 yuan, it was hammered all the way down to 0.72 before it finally stopped. The lowest point is temporarily being held, and the price has bounced back to slightly above the short moving averages. On the contracts, the passive long/active buy side is a bit more biased toward buying. It looks like there’s a hint of stabilization.
But I won’t rush in at this level. The problem is that while the price is still falling, the contract open interest over the past 7 hours actually increased by 30%—either bargain hunters are picking up, or the shorts are adding positions; either way, the direction hasn’t been decided.
The big players also show some interesting signs: the accounts are bullish in number, but the longs vs shorts actually posted in positions are basically split 50/50. And over the last nearly 7 hours, they’re still reducing longs. That suggests large capital also hasn’t really taken a side.
So here, I’m more inclined to wait and observe. Whether the 0.72 low can hold is crucial. Don’t rush to catch the knife in the middle of a sudden crash—let the market choose the direction first.
#beat $BEAT