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The double festival has passed and prices have fallen. The banker raised his sword and sharpened it vigorously. Bulls are dead, bears are granted amnesty. Or vice versa, forced retreat?
Hello everyone, I am Lao Guan. The National Day holiday passed in an instant for 8 days. These 8 days can only be described as aimless. In reality, I haven't gone anywhere. I went to play and have fun, but I can't see the market clearly online.
However, the holiday has passed, and the dealer's knife has also been swung. Prices experienced a high-speed decline yesterday, and the Big Cake Ether was affected. As our title suggests, the current decline of dual currencies is not a normal downward trend. What is normal behavior? It is normal for prices to experience short-term rebound and even consolidation adjustments during the upward trend, as the market cannot continue to rise and requires strong support. But why is it said that he is not a normal behavior at present? We will provide a detailed explanation of this during tonight's live broadcast, but we can also briefly mention in the article that the current market has fallen below the key resistance level of 120000. And Ethereum's decline has once again returned to within the range of the daily level oscillation downward channel line. This action, in our view, breaks the pattern of strong upward trend before walking with both arms. So in the event of such a pullback at this position, we need to pay reasonable attention to the price of the market and may need to create another wave of downward expectations.
Of course, those who have just entered such a volatile market may not have fully recovered, and currently require a certain amount of market sentiment to settle down. As the core of market sentiment, that is, investors, your emotions also need to be released. So we won't rashly come to the conclusion that big brands are going to fall at the moment, but at least we need to pay attention to the future fluctuations of the market and define where the price will go.
Overall, in my opinion, this pullback behavior is nothing but a blow to the bulls. Is this stick going to stop at once, or do we have to fight to the death? We will analyze it tonight as the market has already started to move forward.
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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.