78,000 long-term resistance, is it a breakthrough or a big drop?



This is also where many people feel confused. Let me share my opinion. Tonight's market is swinging between rallying and crashing, feels like a shakeout?

Everyone should have noticed that the 78,000 level has been tested repeatedly many times. Every time it surges up, it gets forcibly pushed back by funds! This indicates that this is no longer just a normal resistance level, but a zone where the 8-hour, 16-hour, and even longer-term EMA52 moving averages are jointly suppressing, with the bears defending very resolutely.

Currently, there are two possible paths:

✅ If tonight can break through 78,000 with high volume and hold steady, the daily chart's rebound space will be fully opened, and there is still potential for further upward attack.

❌ But if it continues to surge but cannot break through as before, then be alert! The so-called "long-term siege leads to a big drop"! Once the bulls' strength is exhausted, a quick downward move could easily follow!

So at this critical level, everyone can only wait patiently. Instead of guessing how the market will open, it's better to wait for the closing to see the answer!
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