The large pancake has significant selling pressure around 93000. In recent days, every time the bulls attempt to start, they get suppressed. Currently, a strong resistance line has formed near 92,000. Looking at the current candlestick chart, the continuous sideways oscillation is raising the bottom over time, and it is now approaching the end of a triangle formation. In the future, it will be very clear that a market trend will emerge.
The current market situation resembles a continuous sideways movement to digest the selling pressure above, to accumulate energy for further upward movement. However, considering the previous downward pressure after a breakout, there will still be some downward pressure in the future. Combining this with the recent volatility characteristics, it is currently more advisable to adopt a short-term trading strategy, focusing on suitable positions for low buying operations.
Conclusion: There is a possibility of hitting new highs in the short term, but caution is still needed regarding the risk of a pullback. It is recommended to observe the current level and wait for a suitable low-buying opportunity to act.
Currently, the priority consideration for positioning: around 90000.
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