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This wave of movement still follows yesterday's approach: after a strong rally, a correction occurs, and after the correction, an attempt to push higher is made, with the goal of testing the key resistance zone at 72,000-73,000.
Overall, yesterday's rhythm was actually fine; there was indeed a rebound around 70,000 (lowest at 70,300), with a high up to 72,000. Although the exact levels are slightly off, the structure is correct.
The problem is that this upward push lacked strength; it quickly retreated upon reaching near the previous high, indicating that the bullish momentum is somewhat limited. In the short term, it’s possible that the trend could weaken and move downward directly.
But at this position, it's not ideal to act; it hasn't reached a key resistance level upward, nor has it fully filled the structure downward, so the risk-reward ratio is not high.
A more cautious approach is to wait until around 72,500-73,000 before shorting for better safety.
If positive news pushes the price strongly above 73,000, with a weekly candle closing bullish and the MACD forming a golden cross at low levels, there is a possibility of pushing for a new high, even reaching 76,000-78,000. However, even if it pushes higher, it’s likely a false breakout—initially trapping shorts, then trapping longs, and directly starting the final decline. This kind of move is common in a bear market.
Currently, it’s still a rebound structure, but with limited strength.
Avoid chasing in the short term; wait for key levels.
In the 72,500-73,000 range, prioritize short positions.