For the current market, I think everyone is more concerned about what else can provide support if the market continues to fall?

I looked at the moving averages of MA and EMA. From the 7-day to the highest 200-day moving average, there is basically not much effective support below.

If we look at the monthly line, the most critical support of the monthly line is 44,000, which can be said to be a very pessimistic position.

In the afternoon, I discussed the market with Guilin Ma for a few words. He believes that the 3-day MA120 can provide a short-term support, which is around 53,000. But I looked at the market and the 3-day MA120 has run to around 52,700. At present, the most intuitive and effective support below is also at this position.

In addition to support, everyone is more concerned about whether the previous low of 49,000 on the daily line is a definite bottom, which is very important for the current trend.

If so, then this decline can stop falling, fluctuate, and rebound above 49,000, then we will basically usher in a better structural and stable trend. If not, then if 49,000 falls below, the decline widens, and there is a lack of effective large-scale support below, then it really depends on faith.