To be honest, $MEITUAN has been smashed from 10.85 down to 9.87. With a drop like this, placed on Hong Kong-listed Meituan, it’s a classic case of foreign capital draining liquidity. Hong Kong stocks themselves have already fallen for four consecutive days last week; Tencent and Alibaba have both broken through key support levels. As a local life-services leader, Meituan simply can’t withstand sector beta.
I’m watching support at 9.80. This level lines up exactly with the 0.618 retracement of the previous rebound. If today’s close can stay above 9.90, that would indicate there’s still money willing to step in—so you could try a long position in the short term, with a stop-loss at 9.70. But if it breaks below 9.80 on heavy volume, don’t hesitate—the next stop is 9.40.
On the crypto side, we’re actually waiting for the US CPI data. The big coin is just moving sideways, and there’s no clear inflow of stablecoin funds into something like $MEITUAN , a TradFi token. I think there’s no need to rush before tonight’s US market opens; wait for the linkage signals between the intraday moves in Hong Kong stocks and US stock index futures, then act—the odds will be much higher.
I’m watching support at 9.80. This level lines up exactly with the 0.618 retracement of the previous rebound. If today’s close can stay above 9.90, that would indicate there’s still money willing to step in—so you could try a long position in the short term, with a stop-loss at 9.70. But if it breaks below 9.80 on heavy volume, don’t hesitate—the next stop is 9.40.
On the crypto side, we’re actually waiting for the US CPI data. The big coin is just moving sideways, and there’s no clear inflow of stablecoin funds into something like $MEITUAN , a TradFi token. I think there’s no need to rush before tonight’s US market opens; wait for the linkage signals between the intraday moves in Hong Kong stocks and US stock index futures, then act—the odds will be much higher.
