December 29

Based on the current candlestick structure, moving average patterns, and price volatility, the asset is in a deep correction phase after a short-term surge of 1–3 days at a short cycle level. There are signs of a weak rebound after the bearish momentum is released, but overall the outlook remains bearish. Attention should be paid to the effectiveness of key support levels and the pressure during the rebound.

Previously, a volume-driven long bullish candle pushed the price rapidly from 2922.84 to 3056.00, forming a short-term peak pattern, typical of a "sharp rise and fall" trend. After the bullish momentum was quickly exhausted, a bearish rebound occurred. Following the peak, large bearish candles broke below support, with significant bodies and deep declines, accompanied by consecutive green candlesticks, indicating that bears are dominating the short-term market. Recently, candlesticks have become smaller with lower shadows, suggesting that bottom-fishing funds are entering at low levels, entering a brief battle between bulls and bears.

The short-term moving averages are turning downward rapidly. The price broke below the medium-term moving average and failed to rebound above it, indicating resistance from the moving averages and a weak correction characteristic. The indicator lines below are at low levels, showing some signs of turning upward but without a clear reversal yet. The short-term oversold condition has not yet shown a trend reversal signal.

Short-term, it is recommended to retest the 2930–2905 level area, with a light position for entry. The target is around 2990–3030.

The above is only personal advice for reference and does not constitute investment advice.