The current market fluctuations around the 90K level have indeed attracted widespread attention. This price level is an important psychological and technical threshold for market participants, which may determine the future market direction.
Significance of 90K:
Support or Resistance: If the market can stabilize above 90K and form solid support, it indicates sufficient buying power, potentially driving prices higher and challenging new peaks. Conversely, if 90K becomes a strong resistance level, and the market hovers around this position with selling pressure, it may signal a price correction or adjustment.
Market Sentiment: Near key levels, market sentiment becomes cautious. The tug-of-war between bulls and bears at this position will determine whether there will be a breakout or a decline.
Investor Opportunities or Wait-and-see Signals:
Opportunities: If you believe the market is about to break through 90K and form a new upward trend, then now may be a good time to gradually build a position or increase holdings.
Wait-and-see: If the price repeatedly tests around 90K without effectively breaking through, it may be a time to wait and watch for clearer signals to avoid taking on excessive risk in a potential false breakout.
Ultimately, investors should consider the overall market trends, macroeconomic environment, and specific technical indicators (such as trading volume, momentum indicators, etc.) to decide whether to take action. Long-term investors may focus more on fundamental support, while short-term traders need to closely monitor price changes and shifts in market sentiment.
