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After consecutive 46 days of decline, the bottom has also oscillated for 21 days. The 4h moving average has gradually converged from a bearish pattern, with the open interest decreasing and approaching consolidation. To put it simply, the market is not far from a trend reversal, especially after two days of low volatility over the weekend. The daily volatility is about to hit a two-month low, and the 4-hour volatility will also approach its lowest point in two months. Early next week, whether shorting or longing, it is worth taking a position, as there is a good chance to break out of the consolidation zone and the area with dense moving averages. Based on historical patterns, the bias slightly leans upward.
Trade with good stop-loss, opinions are for reference only.