From the 4-hour cycle perspective, the price has experienced a continuous adjustment of five bearish candles, gaining significant support in the middle area of the Bollinger Bands, and has not shown substantial breaches. Currently, the channel is overall in a converging and flattening state. If this key support level at the middle band can remain effective, the overall strong pattern of the market will continue.
Looking at the 1-hour cycle, although the price is showing a volatile downward trend, it briefly pierced the lower Bollinger Band before halting its decline and rising. Despite some pullback in the daily increase, the current price level remains above yesterday's low, and short-term selling pressure has shown signs of weakening.
In summary, the effectiveness of the core support area has been validated, and the bearish energy has somewhat diminished. It is recommended that the afternoon strategy focus on seizing low-buy opportunities during the pullback process.
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