Market review: Last week ended the five-wave decline adjustment from 109000 to 91000
4-hour level, just reached the Fibonacci 0.886 position
Currently, it is still in the consolidation area formed since last year, November at 90,000. It has been consolidating for 3 months, while last March it consolidated for 8 months. Based on the current position and fundamentals, it is expected that the consolidation will end by the end of the month, ushering in a new round of upward cycle.
February 6 market analysis: The resistance level set for everyone last night was 99000, reminding of a pullback after a rise. Currently, this short point looks very accurate.
Next, there are opportunities for both long and short positions. Currently, it is in the final stage of a 1-hour triangular consolidation, which is quite tedious and has limited space.
The larger direction is likely to move towards an upward five-wave, with the second wave filling the gap formed at 95500-96500 before breaking upwards.
Operation suggestions:
Long strategy: range of 95000-96000, near 94500 (starting point of wave one)
Short strategy: positions at 100500, 1015000, etc. Do not place pending sell orders; focus on the price behavior at target points.
Note: If one day the daily closing price falls below 93400, it may mean a potential drop into the 80,000s.