From the four-hour chart, after the price quickly dropped from the upper track of the channel, it found clear support above the middle track, without forming a sustained downtrend. Instead, a rapid rebound and correction occurred. The moving averages across all timeframes are in a divergent and consolidating pattern, indicating that short-term bullish and bearish momentum are intertwined, and a volatile tug-of-war is expected to continue. It is worth noting that this correction has never effectively touched the middle track support, and the rebound response is relatively quick, indicating that buying power still remains dominant. Subsequent operations can focus on low-level support opportunities after a pullback and stabilization.
It is recommended to go long around 95000 and 95300, with the first target at 98000, and a breakout to 100000.
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From the four-hour chart, after the price quickly dropped from the upper track of the channel, it found clear support above the middle track, without forming a sustained downtrend. Instead, a rapid rebound and correction occurred. The moving averages across all timeframes are in a divergent and consolidating pattern, indicating that short-term bullish and bearish momentum are intertwined, and a volatile tug-of-war is expected to continue. It is worth noting that this correction has never effectively touched the middle track support, and the rebound response is relatively quick, indicating that buying power still remains dominant. Subsequent operations can focus on low-level support opportunities after a pullback and stabilization.
It is recommended to go long around 95000 and 95300, with the first target at 98000, and a breakout to 100000.