🧠From a structural perspective, we hit the daily neckline support and began to rebound. Unfortunately, it's about $170 away from the overlapping support zone I'm focused on, and the rebound didn't establish a 1-hour bullish structure. This suggests a high probability of encountering resistance and a pullback after this rebound. Therefore, don't chase the rally at the neckline resistance zone! Only if we can break through the neckline resistance zone and stabilize for a day or so should we actively consider a bullish move.
➡️Support is clearly around 120,000. Even if it falls below this level, as long as the 4-hour closing price is above it, this support level will remain valid. Extreme support is still around 110,000!
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