$HOOD Significant Pullback Reasons Analysis and Short-term Strategy
📉 Reasons for the Plunge: Macroeconomic sentiment shifts + internal factors resonance. $BTC breaks key support triggering a widespread decline in crypto stocks, compounded by a 18% quarter-on-quarter decrease in cryptocurrency trading revenue in the $HOOD Q1 financial report, raising market concerns about its growth sustainability.
🔍 Current Market Condition (15-minute Cycle):
- Data reveals the market is in a 【low volatility state】, with the average fluctuation of the past 10 candlesticks at only 0.79%
- However, it shows a 【slight ascending structure】, with 5 out of the last 6 candlesticks being bullish
- Key: Candlestick 8 shows a long upper shadow bearish candlestick (body accounts for 11.3%), indicating selling pressure around 77.34
🎯 Key Levels:
- Resistance Zone: 77.34-77.45 (tested multiple times without holding)
- Support Zone: 76.63-75.08 (dense area of candlestick lows)
⚡ Short-term Strategy:
1️⃣ Breakout Buy: If a volume breakout above 77.45 is sustained, a light position can be taken to go long, target 78.20 (previous high psychological level)
2️⃣ Pullback Buy: Enter when it stabilizes upon retreating to the 76.60-76.80 support zone, with a stop loss below 76.30
3️⃣ Breakdown Sell: If it breaks below the key support of 76.30, consider a small position to short on the rebound
📊 Key Indicators: Pay attention to changes in trading volume! Candlestick 7 has surged in volume (6719 contracts) and has since continued to decrease in volume, signaling caution over insufficient momentum.
⚠️ Reminder: Current overall volatility is relatively low, it is recommended to control positions within 5%, and strictly maintain stop losses! Wait for $BTC's trend to provide directional guidance.
#HOOD