RIF, where do you stand this time: Panic release or continued weakness?
RIF has dropped -20.30% in the last 24 hours, making a deep retracement. Right now, it’s not about how much it's dropped, but whether the selling pressure is nearing its end. Current price is around 0.09754, with a 24h trading volume of approximately 75,053,700, showing that increased volume seems more like a concentrated panic sell-off.
Reference indicators: 30m Super Trend at 0.090585, and the current price is above it, indicating a trend continuation; 30m KDJ at 75.86/67.68/92.23, suggesting short-term volatility is on the hot side; conversely, if the J value fails to bounce back, short-term volatility might easily turn weak again.
I’ll break down my judgment into two trades: one to see if the trend support level can be reclaimed, and the other to check if a short-term bounce has formed a second confirmation. Both trades need to be steady for it to count as recovery; if only one is stable, then we’re still in a range-bound situation.
Square's hot topic is also brewing around
#CFTCChairClarifyingPerpFuturesMisconceptions ; this line has not only seen market fluctuations but also has discussion traffic.