Although the market has appeared to be in a downward fluctuation in the last 10 days, we can see from the chart below that there has been a subtle change in price behavior in the futures market;

The rebounds two weeks ago were purposefully liquidating short liquidity, and once that was cleared, the market went down. However, the false breakdown on December 20 transformed into price behavior targeting long liquidity;

This is good news for the bulls, as prices rebounded immediately after teammates were directed to stop losses, indicating that the load has lightened!

The focus now is whether the rebounds of the last two days will continue the previous targeting of short liquidity. In other words, will there be a situation where prices rebound to clear out short positions and then immediately turn down again?

If this does not happen, then congratulations to the bulls; this low-range consolidation may have fattened up the shorts, and it's time for liquidation;

If it happens again, then don't celebrate too early, as the number of times bulls have been liquidated is not as frequent as shorts. Theoretically, in a fluctuating market, the side that has been liquidated less is more easily swept away in a wave, just like when prices quickly retraced from the previous high to 92800;

Regarding the general direction for the next 1-2 weeks, from the perspective of the futures market, it is subjectively not recommended to have a clear direction, as the total liquidity for longs and shorts is basically equal, meaning that both directions are possible.