The multiple upper shadows at high prices in the four-hour cycle indicate that the main force above is taking profit. The MACD technical indicator is currently in negative territory, and with the DIF and DEA showing downward diffusion of bearish momentum, the overall trend requires external news stimulation to initiate a bullish phase; otherwise, a rebound is unlikely, and the bearish trend may persist for a long time.
The Relative Strength Index (RSI) is currently around 40, very close to being oversold. Everyone can wait for an extremely oversold entry point to position for a long trade and catch a rebound. The trend indicator EMA's price has already broken below EMA7, 30, and 120, with all indicators aligned in a bearish arrangement. Currently, short-term, medium-term, and long-term trends are all bearish. Previously, the strategy was to go long with the trend; now, it's time to shift the mindset and go short with the trend, always following the direction of the trend.
