In the article on the 5th, it was mentioned that long players should take profits when the price reaches around 93000. Yesterday, it reached the target we provided in the article as expected and then fell back under pressure at the 92800 level.
In yesterday's article, based on the 1h structure at that time, it was judged that there might be a 1h pullback, so a short position was suggested above 90000, looking to around 87500. Then it was advised to buy back at the two points of 87800 and 86500.
Finally, after closing the short position early this morning, the price just retraced to the buying price of 87790, which can be said to be precisely on point. By 8 AM, the floating profit once reached as high as 3600 points.
But after 8 o'clock, Trump signed an executive order, leading to a sharp drop in the market, causing the floating profit to swing from a gain to a loss of 3200 points. Fortunately, the overall trend won't change easily, and the price has returned to a normal trajectory.
Market Analysis
Today, I won't separate the 4h and 1h discussions, as we are very close to a continuation of the 4h rebound. If the current 1h can break through this downward trend line starting from 110000 as indicated by the red and green arrows in the chart, then the current 4h rebound will run at least to around 99000. If successfully broken, subsequent pullbacks will not create new lows (78200), but if it fails to break and falls below 85000 again, we need to be prepared for further new lows (as shown by the black arrow).
Short-term
There are too many factors that can affect short-term trends. From now until midnight tomorrow, there will be continuous news, and sharp fluctuations are very normal. Therefore, it is not recommended to chase long or short positions; one should wait until the price reaches key support and resistance levels before choosing to open positions.
Direction: Long
Buying point 1: Around 88000
Buying point 2: Around 87000