This morning I mentioned that as tensions in the Middle East escalate, capital will continue to flee, and we all know where it will go. So this morning, it went directly south from a high position, but then the news of zero interest rate increasing Bitcoin came out, and what was going down nicely was pulled back to the upper range. After the zero interest rate came out, the southbound stance was cautious; it originally advanced 700 miles, but ended up only 300 miles, which is too little to count. Currently, it is still at 19 consecutive gains. So how will the broken expectations play out...
From the market sentiment perspective, the market is still in a state of 'greed,' but the index has decreased somewhat, and volatility has also dropped significantly. Market activity is low, and market confidence has consequently decreased. However, some big players are still increasing their holdings, so we need to reassess the positions. The price structure has already broken through the weekend's consolidation range but has not broken the turning point. As long as the turning point is not broken, the trend cannot be established as a downward trend. There is still a possibility of a false downward break. We can apply pressure around 107000.
In the afternoon, we can gradually apply pressure between 106400 to 106800, first looking at the parallel support at 104600, and breaking down near 103500.
