The price of CNY 70,000 broke through the 70,000 mark in a straight line during the day and probed 71,900 all the way. It is currently retracing to around 71,000 and fluctuating and correcting. In the short term, it is still fluctuating at a relatively high level.
In the short term, the price of CNY 70,000 broke through the 70,000 mark in the four-hour chart. The upward force is large and the short-term retracement force is small. There is a certain possibility of going out of the unilateral direction. If it stabilizes above 71,000 during the day, it is still possible to go out of the inertia and probe upward. The bulls are relatively strong and continue to maintain the idea of retreating low and long. The defense below can be placed at the 70,000 mark. This position will not change the bulls' strength. The hourly chart is currently in a correction, but the overall retracement force is not large. It is expected to be mainly oscillating and correcting, and the focus is still on the evening period.
Operation suggestion: Fall back to 70,600 and look long. The target is 72,000
