The current market has a slow release of bullish momentum, lacking strong upward force, making it difficult to achieve effective breakthroughs in the short term. Both bulls and bears are in a state of stalemate and competition.
From a technical perspective, the four-hour chart shows a clear descending wave structure, and key support levels have been breached, indicating a significant weakening of market support. Although there was a slight rebound after three consecutive bearish candles, the rebound highs continue to decline, while trading volume remains insufficient. This raises doubts about the effectiveness of this upward movement, and whether the upward trend can continue will require further observation. Therefore, it is not recommended to chase long positions.
Attention should be focused on the key resistance level of 1130 above. If the price fails to break through this resistance, a short strategy can be planned based on this level.
Specific operation suggestions
• Short strategy: Enter short positions near 113000 when the price encounters resistance and struggles to rise, with a target set at 111500
