The core structure has recently dropped sharply from 2041.84 to 1936.13, and now it has rebounded about 42%, entering the golden correction zone after the plunge.

The price is being firmly suppressed by a dense cluster of short-term moving averages on the hourly level and below. The 1-hour MA20 (1996.58) is the nearest strong resistance line, with multiple short-term moving averages (1993-1996) from 5-minute to 1-hour timeframes intertwined below it, forming a "moving average wall."

If the price cannot increase volume to break through the 1996 area, the rebound may end at any time and it could test lower levels again.

The most critical support below is the 1958.57 level, which has been tested multiple times; this is also near the lower band of the 4-hour Bollinger Bands.

Regarding MACD, the 4-hour chart shows a shrinking green histogram and potential bullish divergence, indicating weakening downward momentum. However, the 1-hour MACD remains below zero, showing weak rebound strength. The key choices are: a breakout above the moving average wall to test the strong resistance at 2020, or a breakdown below 1958 to open a downward space toward 1920-1900.

① The most critical current moving average resistance is the 1-hour MA20 (1996.58). The price is trading below it, indicating a weak rebound.
② Optimal trading direction: do not break above 2000, look for short opportunities on rebounds.
③ Set stop-loss above key resistance levels, for example, short near 2020 with a stop-loss above 2025 (above the daily high).
④ Breakout/Breakdown targets: if short positions are confirmed, the first target is the strong support at 1958.57; if it is effectively broken, the second target is the 1920-1900 zone (previous dense trading area and Fibonacci extension levels). If the price unexpectedly breaks strongly above 2020, then wait and observe, and re-evaluate new long opportunities near 2041.84.