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Event ends: August 9, 16:00 UTC
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The current market shows signs of inflated gains, with short-term long and short forces entangled with each other, resulting in a narrowing range of fluctuations and entering a convergent state. The forces of both bulls and bears are balancing each other within this range, and the market lacks a clear one-sided trend direction. The fluctuation base has weakened, also entering a convergent state. The four-hour level shows alternating bullish and bearish candlesticks, with coin prices facing resistance near the upper middle band during the rebound, exhibiting a double top pattern. Currently, the Bollinger Bands are slightly narrowed. The second rebound is once again under pressure, forming a small step oscillation and decline on the four-hour chart. The overall structure is still in a relatively weak trend, although the moving average indicators remain chaotic and divergent. We are currently in a transition between bulls and bears, with the volume of longs slowing down and re-entering a consolidation phase. The key point is that the movement is slow, and the space is not very large. Therefore, selecting points while following up is relatively crucial. In the short term, the oscillation dip pattern still needs to pay attention to the continuation of the shorts, and also to observe the strength of the rebound. If the rebound strength is weak, look for upward movement at low positions. If key positions break, follow the trend and continue to look at the upward space. For specific arrangements, let's discuss together in the live channel!