This round of “big cake” hasn’t been adjusted to the right level yet. Don’t be misled by the sharp downturns in the recent period, because this looks more like a brief breather after a sudden sell-off—it doesn’t mean the market has stabilized or is about to reverse.

Strong resistance is forming around 63,800. If the price rebounds back to this level, it will very likely run into resistance and fall back again. At the current point, it’s not advisable to rush into bargain hunting. On the downside, first look at 61,800–61,500, and it’s also possible that price could return to the 50-thousand handle!