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As a title, what we call a halt to the decline is just an action, a phenomenon, and cannot be fully described as a signal.
During a certain period of time, as long as the price does not continue to decline or hit a new low, we can consider it to have entered a pattern of bottoming out. But it cannot be emphasized again that stopping the decline does not mean rebounding.
At present, there have been multiple cycles of breaking through key resistance levels in the market. We have given corresponding expectations in previous live broadcasts. As for the action of breaking through key resistance levels in prices, we must pay attention to the confirmation of price retracement. Or it could be a consolidation and repair. We have also mentioned that there is one aspect of the current market that is unfriendly to investors, which is to go long and feel that the bottom is unstable, while going short is in a lower area. It's easy to lose favor with both long and short positions.
Returning to the title, we say that the stop falling action of the price may bring about a two-step approach, which is not an exaggeration. The daily line breaking through key resistance and the weekly level MACD moving out of the corresponding duck mouth closing brewing action may both point to a high probability of price rebound adjustment in the end. If that's the case, then the two-step action is first up and then down.
Another possibility is that the MACD indicator at the weekly level shows an absolute weakness, leading to another dead cross below the zero axis. Following the bearish trend at the weekly level, the price may directly emerge from the next strong plunge. So, the two-step action may be to stabilize the current sideways trend and collapse on a cliff in the future.
So, it seems inevitable that the market will decline, and the focus of our discussion may only be on the current market, where there are opportunities to take long positions with fluctuations. Of course, the logic of the market is discussed, and we can discuss it together in tonight's live broadcast.
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Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.
