AT is now at the 0.1561 level. Looking at the last 10 fifteen-minute candles, they have been consecutively bearish, but this wave of decline is actually quite interesting.

First, the phenomenon: the fluctuation is only 0.72%, with very limited room for movement. There are 8 bearish candles, 6 of which have very thick bodies (some even reaching 93.2%), showing strong selling pressure. But what about the volume? It fluctuates wildly between 260,000 and 2,290,000, and the 8th candle shows a spike in volume but leaves a long lower shadow—this usually indicates that the selling force is weak despite the volume spike.

The key observation point is this: the maximum decline is only 1.9%, yet there has been no significant rebound. The market has already fallen into a sluggish phase with dried-up liquidity.

From a trading perspective, there are two paths to take. For a conservative approach, try a small position long between 0.1550 and 0.1570, with a stop loss below 0.1530. Once it breaks above, look for a target of 0.1600 to 0.1620; for a more aggressive approach, if volume confirms a break below 0.1530, go short with a target at the 0.1500 level.

Where is the real test? Breaking above 0.1620 (the previous consolidation center) or a volume spike through 0.1530—these two levels will determine the next direction. The biggest risk now is that the calm is broken—low volatility can be reversed at any moment by a large bullish or bearish candle, so don’t be greedy. Reduce your position size by half and strictly adhere to stop-loss. Wait until the market produces a candle with an actual body exceeding 2%, which will be the real signal.