Weekly Level: Focus on last week's closing situation, will the price entity bar fall back into the consolidation zone again? Last week, the weekly line successfully closed as a hammer line, and the lower shadow completed a retest of the upper line of the consolidation zone. This closing is beneficial for the bulls this week.
2. In terms of MACD, it is also above the zero axis with a golden cross, and the volume bars are starting to expand. The larger cycle is still positive, maintaining the potential to challenge the new high position of 73000.
Daily Level
3. In terms of structure, the price has undergone strong consolidation near the upper line of the weekly chart, so last week was in a state of fluctuation. The current short-term support is around 66000, with a second support below around 64450 (W bottom neck line position), and the resistance above is 69000 (previous high resistance, also the upward flag resistance). The second resistance level is around 70000 (previous historical resistance).
4. In terms of Bollinger Bands, the middle track is the short-term support of 66000, and the lower track, as the line moves, basically completes the convergence in the 64450 area, which is a resonance area for structural support and resistance.
5. In terms of Fibonacci, 0.618 is the low point of the shadow line, and 0.5 is the second support position, confirming the support and resistance areas.
6. In terms of RSI, there is a need for a pullback. The RSI is slowing down at high levels, and the peak points of the waves are decreasing. Each time the price falls, it will also lower. Currently, it is the third wave small peak, with certain pullback risks. If going long, it is more stable to buy on dips.
4-Hour Level
7. The 4-hour structure is clearer, and the current shape is a flag consolidation during the upward process. Both the high and low points of the current consolidation zone have undergone two tests. The current price is at the top of the third test. If the resistance is effective, the price will first fall back to the area around 66000, which is also the 4-hour Vegas channel support. If it breaks down again, it will be the W bottom neck line support, and also the last test of the lower line of the flag consolidation. If the price rebounds here, it will then target.
Another situation is: If the short-term support around 66000 is effective, the price may show a certain pullback during the day, then break through the trend line resistance, followed by a retest for an upward move.
8. In terms of KDJ, there is a short-term pullback demand, turning downwards and forming a death cross. Since this is at the 4-hour level, there may be a certain pullback during the day. The layout for long positions during the pullback is more stable.