The current market continues to develop as expected. The 4-hour chart briefly broke below the anticipated small-scale converging triangle, but the close remains above it;

Therefore, it is still judged to be a converging market oscillating around the midline, with certain amounts of bullish liquidity at 103k and 102k. If the price experiences further retracement due to negative news in the future, the targets will be these two positions, where theoretically, one could consider going long.

In the short term, this blue converging triangle will be the basis for many traders; thus, this week will likely first attempt to bounce along the lower edge of the triangle and eventually rebound to retest the midline;

If the midline cannot be held, then the price will ultimately need to test the 102~103k range.

Trading ideas:

1. If the price retraces to around the midline at 106k, one could consider going short;

2. If the price rebound is weak and it breaks below the lower edge of the triangle again, wait for the price to fall freely, attempting to go long around 102k.

Due to the current spot premium index starting to decline again and the price being below the midline, if I see a price rebound with a significant reduction in premium, I would prioritize considering going short again to 102k...