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The current 4-hour chart is in the pullback phase after a pump. If it does not hold above during the fall, the 4-hour ma5 will continue to fall. The Bollinger Bands are opening up, with the upper band moving up, the middle band moving down, and the lower band moving down.
The three lines correspond to prices 127, 125, 124.
The bearish volume has increased on the 4-hour level, indicating a potential downtrend.
Short selling volume is beginning to strengthen in the 1-hour timeframe, which may indicate a downtrend.
Moving Average: The 4-hour chart shows a death cross between ma5 and ma10, with the K-line positioned below the short-term moving averages ma5 and ma10.
In the 1-hour chart, the death cross of ma5 and ma10 is showing a downtrend, and the K-line is located below the short-term moving averages ma5 and ma10.
MACD
MACD indicator
The 4-hour chart is above the 0 axis, and the bearish momentum is strengthening.
1 hour is located below the 0 axis, bear volume is increasing.
RSI indicator
The 4-hour RSI indicator is currently in the normal trading range, with the dual lines descending corresponding to the range of 28 and 20.
The 1-hour RSI indicator is currently in the normal trading range with the double lines rising corresponding to the range of 27 and 20.
Conclusion: The market is falling.
Resistance levels: 125, 127, 129
Support levels; 123, 121, 118
Shorting Strategy: Around 127 for initial position
First take profit: 125 Second take profit: 123
Long strategy: Build position near 123
First take profit: 126 Second take profit: 128