[Daily Market Observation—April 4]
As mentioned in the previous content, the support of the market is around 68,000.
The support level fell below the day before yesterday. The key support falls below, which is a right-side signal to stop bullish in the short term.
Looking at the pattern more closely, in the past two days, the market has broken through the trend line of 1.24 for more than two months. Such a break is more critical, and the adjustment it brings will generally not be smaller than the wave in mid-March. , so it is more reasonable to at least go down to the position in the red circle in Figure 1.
There are two key points in the red circle, probably 63000 and 61000.
Furthermore, based on the 1-hour line count, the decline has only lasted 4 waves. As shown in Figure 2, it is usually more reasonable to make 5 waves, so I guess it is a little early for the adjustment to end. There is no need to rush to buy the bottom or something.
