Market Structure Analysis

Trend Rhythm: 1960 → Decline → 1810 → Weak Rebound → Repression
Currently in a low-range sideways consolidation within a downtrend
The rebound after 1810 shows decreasing highs. This is a bearish control structure
Moving average structure: price is below the midline, the 5-day moving average is pressing against the price, and the 20-day moving average is continuously trending downward
The upper band continues to move lower, and the trend remains unchanged
MACD is below the zero line, with no effective increase in red bars; after the fast and slow lines cross, they slowly flatten
Bearish momentum is weakening. But it’s not a bullish start, meaning weak bearishness rather than a reversal
RSI repeatedly hovers around 30, indicating oversold conditions, but no divergence. No divergence = no bottom confirmation
The 4-hour chart remains in a downtrend; 1810 is a short-term critical level. The rebound highs are continuously decreasing, indicating bears still control the market. MACD is weak below the zero line; RSI, although near oversold, has not diverged, suggesting the bottom is not confirmed yet. Short-term focus on resistance zones at 1835-1860; a rebound with no volume remains a high-risk shorting opportunity. If it breaks below 1810, look toward 1780.