We saw a strong bearish close on the daily chart, not only exceeding all the declines from yesterday, but also forming the strongest candle body in the past 7 days, indicating the end of the struggle between bulls and bears, with the bears starting to take over the market. A turning point has been reached, and the bearish sentiment is likely to dominate in the near future.

In the medium term, after a week of sideways movement, the current market seems to be forming a triple top pattern. Attention should be paid to the high probability of a downward trend once the price breaks below the neckline.

In the short term, the pattern continues to resemble a gate, but unlike the previous chaotic fluctuations, the current market has been completely taken over by the medium to long term outlook. Attention should be focused on the formation of the medium-term top structure.

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