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March 2nd, Two Biscuit Silk Road
The price surged to 1988 and then immediately pulled back, clearly showing strong selling pressure above. From a technical perspective, the monthly EMA is about to cross below the weekly EMA, which is a clear downward trend signal; the MACD red histogram is still expanding, indicating that the momentum is building up and may trigger a decline at any time.
Trading Suggestions
You can consider trading within the 1980-2030 range, with the first target at 1900 and further downside at 1850.
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