$ZHIPU dropped 7.9% in this move, with volume expanding to 1.9 times its previous level. The bearish structure remains completely intact.
I'm still leaning short: the 1-hour and daily structures remain bearish after that high-volume sell-off. Price swept straight through the swing low at 57.58, so I see this as a continuation of the downtrend, not confirmation of a bottom—even though the RSI has already fallen to that level.
I'm still leaning short: the 1-hour and daily structures remain bearish after that high-volume sell-off. Price swept straight through the swing low at 57.58, so I see this as a continuation of the downtrend, not confirmation of a bottom—even though the RSI has already fallen to that level.