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Today is the first working day. But the community service has already started for almost a week. Since the beginning of this week, the market has experienced a period of ups and downs. We have also conducted a series of market analysis and sorting.
Based on yesterday's market analysis and trading suggestions on Maishang, our approach is sound. Let's talk about the trading on wheat first. Yesterday, we conducted a limit short operation on the pancake on wheat. Before the last rally in the market, our large bearish orders also successfully took profits. Furthermore, we have analyzed and judged the trend of both currencies, and believe that after yesterday's reversal behavior, prices will not have a higher upward trend. On the contrary, I am more optimistic about the expected decline of both currencies.
Based on today's results, our approach is sound, so we may need to follow up on today's market trends for further analysis. At present, the performance of both currencies has shown a follow-up decline after yesterday's surge. The price on the pancake is basically at the lower edge of the oscillation range set yesterday. At this position, there may be some support movement along the edge or generated. But based on our expectation of a reversal of the market yesterday, this position may experience an instantaneous drop.
As for the overall weak form on the Ethereum, it is believed that the overall downward expectation is stronger. However, at the daily level of Ethereum, it seems that it is currently not suitable to directly attempt short trades. As we discussed yesterday, the multiple cycles of ether have resulted in some chaotic behavior. There have been some conflicting ideas in the judgment of transactions, so in recent trading, we suggest referring more to the trading of Da Bing. Try less Ethereum operations.
I don't think the market will once again take a clear direction this week, and based on yesterday's thinking, I believe that there is a high probability that both currencies will engage in frequent washout behavior this week.
So the current trend of the big pie and ether may not necessarily be the direction that the market needs to operate in. The clear direction we believe may come after the end of this week's consolidation. Only then will it appear.
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Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.
