$APR Looking at this chart, I have completely seen through this game. The current trend is completely stuck in an extremely narrow sideways consolidation, just as you said, clearly behind this is a strange quantitative institution using a grid strategy to frantically "scalp," stabbing up and down to eat up all the liquidity.
The long-term downtrend hasn't changed at all; this small rebound is purely a weak recovery. On the chip side, retail bulls account for as much as 65%, extremely crowded. At this position, the main force would never kindly help this group to break even; most likely, they will still stab down to sweep losses.
With the current risk-reward ratio, entering now is basically suicidal, with an extremely low margin of safety. I would never bet on such a micro-direction controlled by machines; I will patiently wait until this extreme convergence is broken and the right-side trend is established before taking action.
In the quantitative meat grinder, patience and observation are the sharpest weapons.
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