From 1:00 a.m. to 9:00 a.m., price action first traded in a low-range consolidation and bottoming phase. The low reached 65,939. After buy-side demand absorbed and digested sell pressure, the market began to rally, pushing up to the day’s high of 66,711. Afterwards, it was quickly pulled back by short-term profit-taking, which suppressed the move, and returned to trading in the middle of the range.
On the higher time frame, the bullish trend has not yet reversed, but on the short term, the rally has become overbought. Around 66,700 there is strong resistance, while 65,900 is a key support. In
View Original