The rise since yesterday's short-term bottoming out is a rebound, not a reversal. The higher the rebound, the greater the probability of a retracement
The current rebound is caused by the replenishment of liquidated positions and a part of the short-term bottom-fishing positions, not the real market buying power.
So, after a period of time, this part of the buying power is consumed, and the price will naturally fall back
The worst case scenario that can be seen at present is that it cannot hold near 5w and goes to 4w5 again. There is no worse situation for the time being, unless the Federal Reserve does nothing and a liquidity crisis occurs again
My personal prediction of the subsequent trend is shown in the two black broken lines in the figure below. One is to use 5w as support and oscillate 2-3 times to build a bottom. The other is to find a new low and oscillate around 4w5 to build a bottom
In short, it is unlikely to start a new rise in the short term. It is likely to be a process of oscillation or bottoming out again
