7.2 Thursday afternoon — big 🫓 thoughts: the rebound is just a normal repair after the drop; first, go long intraday 🈳

Yesterday, during the Asian session of the big 🫓, a round of selling pushed price directly below the 580 support and extended to 577. However, this leg of selling didn’t continue. After the sell-off stabilized, the bulls started a rebound pullback. As of now, the high has reached 613. The overall rebound of more than 3,000 points is also enough to make @dodo@ feel happy.

In the 4-hour chart, the Bollinger Bands are still holding the downward channel unchanged. In the short term, the bulls have walked out consecutive bullish candles upward, but the energy is limited. It hasn’t brought any change to the overall bearish tone. Overall for the day, it still mainly focuses on going long 🈳, with going long at lows as a supplement.

Reference: look at 610 and 615 nearby 🈳. If price breaks upward through 620, then stand by and observe. The target area to watch is 595-583.