Q1 revenue exceeded expectations but unlocking and selling pressure are still present. Market sentiment is being held up by expectations of a Federal Reserve rate cut. This rally looks like a dead cat bounce; it’s best to exit quickly.
Technical analysis on the 1-hour chart: The middle band of the Bollinger Bands is under pressure, KDJ shows a death cross downward, indicating a clear bearish trend.
First target: 0.1099 Second target: 0.1019 Stop loss: 0.1224
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Q1 revenue exceeded expectations but unlocking and selling pressure are still present. Market sentiment is being held up by expectations of a Federal Reserve rate cut. This rally looks like a dead cat bounce; it’s best to exit quickly.
Technical analysis on the 1-hour chart: The middle band of the Bollinger Bands is under pressure, KDJ shows a death cross downward, indicating a clear bearish trend.
First target: 0.1099
Second target: 0.1019
Stop loss: 0.1224
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