Analysis of Candlestick Trends

The main features of the recent market:
From the AICoin data chart, it can be seen that the market experienced a round of upward movement and peaked near 102,724 on January 7th, but then quickly fell back to around 97,065, with a retracement of about 5.5%. This segment of the trend shows the characteristics of a high-level retreat, accompanied by long shadow candles, indicating a significant weakening of bullish momentum and the dominance of bears.
Support and resistance positions:
Support level: The recent strong support is at 96,000-96,500, which corresponds to the dense trading area from January 4th to January 6th (the large volume bar on the right side of the chart). A stronger support level below is near 91,500, which was the periodic low point on December 31.
Resistance level: The recent resistance level is around 98,000, which is the retracement and rebound range of the previous high. A stronger resistance is the psychological barrier.