The bears are still not giving up; they started to gradually open positions again on Saturday afternoon, which has led to a new accumulation of short liquidity at the 96500 level. Theoretically, as the price fluctuates upward, the liquidity here will continue to increase;
However, the liquidity vacuum area above 96500 has not yet been filled, which means that the short-term price target for upward testing will still be 96500;
As for the bulls, they are mostly clustered within the 91k~92k range. If there is a spike above 96500 followed by an immediate pullback, there may be a larger-scale pullback afterward, leading to a test of 91k;
In summary, first focus on 96500. If it can hold above without a pullback, continue to consider the continuation of the bullish trend. If it can't hold and falls back down, then a pullback to 91k can be expected.
Why is 96500 so important?
Because it is both the 0.618 retracement area of the weekly high and low points and the POC (Point of Control) of the left-side range (the maximum peak value of positions).
