99500 becomes a key resistance, 101000 may present the best short opportunity
The 99500 resistance level has a lot of retail investors shorting; this can be seen from the candlestick pattern from four to eight in the afternoon. Although the bearish strength is strong, the bullish strength should not be ignored!
Those who shorted around 99000-99500 will place their stop-loss above 99500, around 100000. If it pushes back above 99500 again, many retail investors will stop-loss, further driving the price up. 101000 is a very balanced position.
From the four-hour candlestick chart, it can be seen that the market has stabilized at 98000; the 99000 level has been tested three times, and it is highly likely that it will test the 99500 key resistance level again. If this key resistance level is tested again, it is very likely that 101000 will be touched, and this position is also an excellent short position!