Mengzhou Afternoon Thoughts

In my opinion, the cryptocurrency world has never been a game in a greenhouse, but a place for brave warriors to fight and dreamers to venture. Once you step into this market, don’t think about retreating; only by charging forward do you have a chance. Each challenge brought by the fluctuations is a ladder to break through yourself; every moment of gritting your teeth in persistence is a footprint closer to your goal. Show the courage of a warrior, venture through the waves of ups and downs, and you will surely have your own rewards.

Looking at the 4-hour chart, the long bearish candlestick in the morning is crucial. After being pressured from the upper band, it pulled back all the way, but fortunately, it has stabilized above the middle band, forming a clear consolidation pattern. This bearish candlestick has a full body and a short lower shadow, indicating that the bearish strength in the morning indeed prevailed. However, after touching the middle band support, there are signs of a slight rebound.

Looking at the 15-minute small level trend again, a small head and shoulders bottom pattern has vaguely formed during the pullback. If the right shoulder is completed and can effectively break through the neck line, it may initiate a new round of upward movement. However, there's a detail to note: the KDJ indicator is still below the 50 midline, indicating that the market has not completely shaken off the weak pattern. Therefore, the strategy in the afternoon remains the same, focusing on shorting on rebounds.