Market Analysis
From a technical perspective, the 4-hour chart has reached the previous resistance zone of 6.0-6.3. Currently, there is a short-term pullback, and some short-term profit holders are beginning to sell. The minor support level is around 5.6. This pullback mainly depends on the selling pressure; the market makers are slowly absorbing the exiting positions to stabilize the market. After a stop in the decline near 5.6, the market will gradually rise. The larger-scale pullback has now completed, and the main players are starting to take action. With the arrival of a bull market, the positions will only get higher. The major resistance zone above is between 5.8-7, where the main players will oscillate repeatedly until they find a breakthrough beyond the resistance zone. Before the year ends, the market will approach the previous high points, completing a plan to trap retail investors at high positions, preparing for the post-New Year rally. Everyone must stay alert, seize the opportunity, and wealth can be accumulated quickly.
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