6.19 Friday, a whole new idea from Da🫓—today is Dragon Boat Festival. Wishing everyone a happy holiday!

Before you know it, it’s already the end of the week, and the market is weakening again. Yesterday, the price went through choppy consolidation. In the evening, 🈳頭 started to gain strength, breaking below short-term support and extending down around the 622 area. Then, in the early hours, it rebounded slightly to 632, only to face renewed pressure and fall back. It’s currently consolidating below 630.

In terms of momentum, the short-term picture has turned weak across the board. On the 4-hour chart, the Bollinger bands are curling downward, the moving averages are shifting lower, and the MAXD death cross is continuing. With the bears pushing lower on heavy volume, the price is drifting down. On the 1-hour chart, overall weakness is still dominant, with every rebound being suppressed by 🈳頭. Overall, the structure has turned weaker, and going forward, it can simply follow through with the trend.

Morning reference: around 630; around 635, 🈳 is watching—then looking down toward the 615–605 zone.