Today's thoughts and views sharing:
Reviewing yesterday's trend: Overall, yesterday formed an M shape, rising from 887-924 in the morning, then retracing before the US market, dropping from 918-894, and then rising again to around 927 during the US market, before dipping to 897 in the early morning. In the short term, the bulls and bears are still very anxious, oscillating at the high point of 90,000.
But one thing to note is that regardless of whether it's on the daily or hourly level, after the retracement from the high point of 93,400, the lows are gradually moving up. If you open the chart, you can see the following. From this perspective, I have emphasized multiple times that it is clear that the bullish trend remains unchanged. Conversely, if the highs are gradually decreasing and each pullback fails to surpass the previous high, it indicates a shift towards a bearish trend, which is evident on the chart.
As for today: Maintaining the early morning low point of 89,700 as a short-term support, I continue to look for an upward trend. The level of 92,000 has been touched multiple times, indicating a greater probability of breaking upward, with time replacing space. Fenglang believes that there will be a new high this week.
As of now, it is 3 PM, and the price has reached 92,000. This position is indeed not a good entry point. If shorting, you all know that I do not consider it at all; I would rather wait for a retracement, currently waiting for a retracement to set up.
Reference entry at the level of 90,700-90,400, looking up at 92,000-92,500-93,000. If there’s no retracement to provide the level, then set up again before the US market.
If you have no direction, you might as well take a look at Fenglang; perhaps breaking the ice requires just one opportunity!