Thursday Market Analysis

In the early morning, the market moved within a range, with prices fluctuating between 80,000 and 84,000 yesterday, neither breaking upwards nor crashing downwards, typical of a sideways consolidation phase.

In such a volatile structure, don't blindly chase after rises or falls; patiently wait for a direction. As a result, after midnight, the price slowly climbed up from around 83,000. Although the increase wasn't strong, the lows continued to rise, indicating that bulls are starting to test resistance.

Next, let's talk about the future direction. This round of consolidation has been mostly completed. On the hourly chart, the price has steadily stayed above the short-term moving averages, and during pullbacks, it hasn't breached previous lows, indicating that the funds stepping in from below are quite active.

Although the fund data shows a net outflow, the price is rising instead of falling, which is likely due to retail investors being shaken out while the main force quietly accumulates. As long as there is no sudden increase in volume that breaks below 83,000, the market will most likely continue to push upwards, with the initial target around 85,000.