Figure 1, tested multiple times near 93500

Personal Insights
The shanzhai pancake has already stopped falling and has not made a new low. In my view, this is a large-scale sideways movement. The resistance level is 99500, and the support level is around 93500. If it breaks below 93500 and cannot stabilize above 94000, it will continue to fall, testing 90000, or even 88000. If it stabilizes above 94000, it has rebounded several times immediately after breaking below 93500, so this is a false break. I believe there is an opportunity for the market to rise again this week back to the first rebound high point, which is around 99500. When the price reaches here, 99500 will become a new resistance point. If it cannot continue to break through, this week is likely to be a sideways fluctuation. We need to wait until next week to see if it can break above 100000 again to determine if the downward correction has ended.
The fluctuating market is easier to trade; just set stop losses at previous lows and highs.

🎄Hehe, here's a picture of my brother dressed as Santa Claus, hope it's not a Christmas heist.