A day in the crypto world is like a year in human life. In such a rhythm, living is a hundred times more important than making quick money.

Today, watching the 4-hour K-line of PIPPIN/USDT, it feels like watching a master play mahjong—calm on the surface, but the chips behind the scenes are quietly changing hands.

**The true picture of technical analysis: Bulls and bears are at a stalemate**

First, look at the Bollinger Bands. The price is stuck near the middle band (0.324), with the upper band at 0.389 acting like a ceiling, and the lower band at 0.258 supporting the floor. This is a typical sideways market, with bulls and bears temporarily at peace, neither side able to break through this range.

The RSI indicator is at 49.9, just a hair away from the neutral 50 line. In other words: neither bulls nor bears have absolute control. Don’t expect a sharp surge or a sharp drop in the short term.

The J value of KDJ is almost touching the overbought warning line at 80, but the K and D lines are still oscillating around 50. It’s like two boxers facing off, fists raised, but neither dares to throw the first punch, fearing a counterattack.

On the MACD, the DIF and DEA are close to the zero axis, with red and green bars flickering back and forth. The tug-of-war between bulls and bears has lost momentum, and trend signals are unclear. In this situation, entering the market is basically a gamble.

**The core logic of the current market**

Large funds are testing the waters, while retail investors are easily confused by short-term fluctuations. The range-bound situation will persist for a while longer, with no clear directional guidance. At this point, what’s needed most is not aggressive trading, but patience to wait for a breakout signal.

There are always opportunities in the market, but the prerequisite is to stay alive until you see them.