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The price dropped from 62,900 all the way down, directly falling to 61,075. This wave of bearish momentum is indeed fierce!
But everyone can also see that after the price broke below the lower Bollinger Band, it has now started to recover, and the KDJ has turned upward from the oversold zone, indicating that the bearish momentum has been exhausted, and funds are supporting at the low levels.
Next, we should focus on the support of the lower Bollinger Band. As long as it doesn't break below this level, it indicates that the low has stabilized effectively, and there is a high probability of a technical rebound; if it breaks below, then the bearish trend will have to continue!