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Yesterday, I said 63k could hold, but today 63 is gone.
The early trading dropped to 62,408, and that Sunday’s rally to 64k is almost exhausted.
The market is asking you: was last Friday’s 59,131 the bottom, or can’t 62k hold and will it test again?
Both are believed by some.
Those who believe in the bottom look at the volume — the volume of that Sunday’s rally couldn’t have been driven by retail investors.
Those who believe it will fall further look at the structure — if the rebound can’t even hold 64k, the bearish trend hasn’t reversed.
I didn’t change my plan, but I changed the price.
Yesterday, I said 63k would support the position.
If 63k breaks, that support no longer holds.
The new position is at 62k — this isn’t chasing downward, it’s a retracement of the wave from 59k to 64k, hitting the 0.618 Fibonacci level.
If 62k doesn’t break by Wednesday, it indicates that selling pressure is truly weakening and not just a change in hands.
Stop-loss at 61.5k if wrong.
Not every rebound needs to be chased into, but at this level, the odds are enough.