In the 4-hour chart, the Bollinger Bands show a narrowing trend. At the beginning of this week, the price tested the upper band multiple times without success, forming effective resistance.
In the past two trading days, the market has gradually retraced to the mid-axis area of the channel. Currently, the key support level is at the 90,000 integer mark, creating a technical resonance with the current oscillation range of 96,000-93,000.
The market has entered a typical phase of balance between bulls and bears. It is recommended that traders pay close attention to price breakouts at the boundary lines to confirm the continuation of the trend. Before a breakout signal appears, a short-term strategy of counter-trading at the upper and lower edges of the range can be adopted. If a valid breakout occurs, positions should be adjusted in a timely manner to follow the new trend.
