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Trend prediction and probability for the next 3 hours
Based on all the above indicators, the market is currently in an extreme bearish trend.
* High probability event ( about 70% ): continuation of decline or low-level consolidation
* Trend Analysis: Given that all major trend indicators (candlestick, Bollinger Bands, MACD, trading volume) point strongly bearish, the most likely movement is for the price to continue downward in search of support.
* Key price level: The price may test the previous low around $112,888 again. If this level is broken with strong volume, the downward space will further open up. Even if it does not continue to drop, there is a high probability that it will consolidate briefly at the current low to accumulate energy for the next round of decline.
* Low probability event ( about 30% ): Trigger a technical rebound
* Trend Analysis: Based on the oversold signal from the RSI indicator and short-term support from the order book, the price may trigger a brief technical rebound. This rebound is a correction during the downtrend, not a trend reversal.
* Key Price Levels: If a rebound occurs, the resistance level may be near the lower Bollinger Band, specifically in the $114,200 - $114,500 range. Without significant positive news to stimulate it, a rebound to this area will face substantial selling pressure and is likely to return to a downtrend.
Conclusion:
In the next 3 hours, the overall trend looks bearish. The trading strategy should focus on going short with the trend or waiting to short after a rebound. Although there is a possibility of an oversold rebound, the risk of going long against such strong bearish momentum is extremely high. Close attention should be paid to the price's reaction to the recent low of $112,888.