Yesterday provided two possible scenarios. The first one was a retracement to around 97200, then a push towards the 100k mark.
The second faced resistance around 98600, subsequently breaking below 97200, then heading to 96500, consecutively breaking below 95800-95200 confirmed this. I didn't expect this to be the sequence of the price movement!
As for the second contract, it provided a one-way short strategy with a target of 3440, confirmed on the same day! At the same time, it gave a very reliable stop-loss at 3553-3557, and the second contract's peak reached 3547! The stop-loss was precise and reliable!
Recently, the first contract has tested the 99500 level multiple times. If it breaks through, it will definitely reach 100200, while Yi Cheng has consistently been optimistic about a pullback throughout the day! I have posted multiple times during the day providing insights. During the observation, the pressure was also quite high, but I believe this round will effectively liquidate the positions. There’s no other reason because I believe the main force has always been this ruthless. Most importantly, when the first contract rose from around 94, it was the initial entry that drove the surge. Chasing highs will lead to losses.
At that time, based on the price action, I provided two possible scenarios: one was a slow grind followed by a spike, and the other was a spike followed by a rebound. Ultimately, the price is moving towards the first scenario. During that time, I observed at 2:45, 3:15, and 3:45, the MACD indicator showed bullish momentum covering the initial positions, and the trading volume was also fluctuating. Such indicators are easy to form a short squeeze in real-time. Therefore, I didn’t follow the indicators and reminded others to secure their short positions with stop-losses. The probability of a pullback is far greater than that of a breakout, so I chose my own direction!
In the afternoon, breaking below the 98000 level, the subsequent volume increased, and within just an hour and a half, it dropped three thousand points, pulling down further! Currently, the damping is decreasing, and the pullback is in process. We first complete this four-hour pullback, and then continue short on the rebound. The second contract is pressured by the trend line, continuing to look for a pullback downward!
First contract short directly at 96500-96800
Targeting down to around 93800, breaking below will look at around 93250
Second contract short directly at 3360-3380, targeting down to 3304
Breaking below will look further down to 3260-3280
