$龙虾 — Can you still short now?
From the peak of 0.28736, there has been a sharp pullback. It has fallen below the previous key support at 0.24. It is currently running at 0.23588, about an 18% retracement from the previous high. Now, resistance is at 0.24–0.245, 0.25, and 0.26. Support to watch is at 0.23, 0.22, and 0.20.
Can you still short now? Yes, you can take a light position to short, but it is not the best entry point. The bearish case is because it has broken below the key level of 0.24 and the EMA30, and the market has turned bearish in the short term. The MACD is arranged bearishly and momentum is increasing, with clear signs that the pullback may not be over yet. After a rapid drop from the highs, the bears are in control.
What you need to be cautious about is that the price has already fallen from 0.287 to 0.235. The short-term decline is not small, and there may be a technical rebound. There could be some support around 0.23–0.235. Chasing a heavy short position blindly could easily get stopped out by a rebound. Weekend trading may bring larger volatility, and fake breakouts with a quick pullback are common.
#HYPE涨超11% #香港拟年底前推出批发CBDC
Going forward, I will keep monitoring the market closely. Key levels and entry/exit strategies will be shared with the chat room as soon as possible. You can come check out Niu Ge’s official chat room.
From the peak of 0.28736, there has been a sharp pullback. It has fallen below the previous key support at 0.24. It is currently running at 0.23588, about an 18% retracement from the previous high. Now, resistance is at 0.24–0.245, 0.25, and 0.26. Support to watch is at 0.23, 0.22, and 0.20.
Can you still short now? Yes, you can take a light position to short, but it is not the best entry point. The bearish case is because it has broken below the key level of 0.24 and the EMA30, and the market has turned bearish in the short term. The MACD is arranged bearishly and momentum is increasing, with clear signs that the pullback may not be over yet. After a rapid drop from the highs, the bears are in control.
What you need to be cautious about is that the price has already fallen from 0.287 to 0.235. The short-term decline is not small, and there may be a technical rebound. There could be some support around 0.23–0.235. Chasing a heavy short position blindly could easily get stopped out by a rebound. Weekend trading may bring larger volatility, and fake breakouts with a quick pullback are common.
#HYPE涨超11% #香港拟年底前推出批发CBDC
Going forward, I will keep monitoring the market closely. Key levels and entry/exit strategies will be shared with the chat room as soon as possible. You can come check out Niu Ge’s official chat room.
