Stage One: Downtrend
The chart clearly marks a series of LL (Lower Low) and LH (Lower High), which is a typical downtrend structure.
Subsequently, there was a BOS (Break of Structure) and CHoCH (Change of Character), indicating the end of the downtrend and the beginning of buying activity.
Stage Two: Structural Reversal
Around mid-June, HH (Higher High) and HL (Higher Low) appeared, and the price began to enter a new uptrend.
**Double Bottom** is clearly visible in the support area below, enhancing the validity of the bottom structure, which is a bullish signal.
Stage Three: Range Consolidation
Currently, the price is operating within a clear range:
Upper Resistance (Upper Trading Range) is around 108,000;
Lower Support (Down Trading Range) is near 103,000.
This consolidation box has lasted several trading days, showing a typical accumulation state.
Current Position and Signals
The current price has broken above the upper edge of the consolidation range near 105,800, accompanied by increased trading volume, suggesting the possibility of a new upward movement.
At the same time, MACD (not shown but usually referenced) under this type of pattern, if there is a golden cross support, the upward probability is stronger.
Operational Suggestions:
Bullish Strategy: If it can successfully hold above 106,000, look short-term towards the 108,000-110,000 range;
Bearish Strategy: If it is a false breakout and falls back below the double bottom support level (around 104,000), it will return to consolidation or a weakening trend;
Key Support Level: 104,000 (HL and double bottom area);
Key Resistance Level: 108,000 (upper edge of the box);
