Article published on 2025.7.8—14:15

Yesterday, after touching around 2600 in the morning, the market continued to decline, and the bearish outlook was accurate. After a slight rebound following a drop to 2500 in the early morning, it rose again but then fell back, with short-term bulls and bears in a stalemate.

The daily MACD fast and slow lines show signs of convergence, and both RSI and KDJ have issued reversal signals. Indicators on the 4-hour and 8-hour charts show bearish signals, indicating potential downward space. The Bollinger Bands on the 1-hour chart are expanding, suggesting increased short-term volatility. The price touched the upper band but failed to break through, falling back to near the middle band, indicating effective resistance at the upper band, limiting short-term upward space. The MACD double lines remain above the zero axis, indicating an overall bullish trend, but the slope is noticeably narrowing, showing a potential death cross trend, suggesting weakening bullish momentum and possible accumulation of bearish pressure. The strategy for the day remains focused on shorting at high levels.

Market outlook: Short at 2550-2580, targeting around 2500.

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