The current price of the pancake is around 90470, which is a typical "sandwich" state: the price is oscillating between the short-term and long-term moving averages, indicating that the market is looking for a breakout direction.
K-line shape: A small-bodied bullish candle has formed in the current period, indicating weak buying support at this position, trying to stop the decline. However, the increase is only 0.15%, with an extremely small amplitude, belonging to a typical volume contraction consolidation pattern, indicating a strong wait-and-see sentiment in the market, lacking the momentum to push for a significant trend.
Upper resistance: The primary focus is on 90860, followed by the recent high point around 91500.
Lower support: The immediate support is 90422, while the more important support levels are at 90330 in the chart and the psychological barrier of 90000. If it breaks below 90000, it may trigger a larger pullback.
The current situation can be summarized as: a dominant short-term bearish trend, but the price is gaining a breather at a critical position, facing a choice of direction.
Bullish opportunity: If the price can effectively stabilize above 90422 and break through 90860 with volume, the short-term downward trend may be reversed, providing an opportunity to test the 91500-92500 area again.
Bearish opportunity: If the price fails to break through the pressure at 90860 and falls below the low of 90330 again, it is very likely to test the 90000 mark downwards.
Current status: Extremely narrow fluctuations and very small amplitudes are often precursors to market changes. The market is in a temporary equilibrium state until a clear direction is established.
The opportunity is near, how can retail investors seize it? Pay attention to Brother Niu to catch the next wave!!
