Candied orange prices retreat from high levels, intensifying the bullish and bearish battle

Currently, the price of candied oranges is 89,300. After spiking to 90,300 last night, it quickly pulled back, returning to the previous fluctuation range. Although there are signs of bottom divergence, overall bearish sentiment remains strong, and it is likely to consolidate below 90,000 this week.

From a technical perspective, the daily trend is weak. The key resistance level of the EMA is at 91,500, and the 90,360 level also forms short-term strong resistance. The MACD indicator continues to shrink downward, with DIF and DEA forming a death cross downward, indicating that bearish momentum has not diminished. Although the candlestick attempts to rebound from the lower Bollinger band at 87,600, the middle band at 92,300 faces obvious resistance, and there is a higher probability of a second bottom near the previous low of 87,200. On the four-hour chart, despite showing bullish divergence at the bottom, the EMA15 is pressing down to the 90,000 level, and the candlestick is lagging in rising during MACD expansion, further confirming the weak pattern.

In terms of trading strategy, it is recommended to follow the trend. Short-term traders can consider short positions near 90,360 on rallies, while medium-term focus should be on the 87,200 break. Long positions (northbound) should patiently wait for stabilization signals after breaking below 87,600. Currently, the main approach is to sell high and buy low, with strict risk control. Overall, there may be fluctuations in the short term, the medium-term trend remains downward, and a long-term bottoming process still requires time. #btc $BTC