6.20 - Chen Lei: The price range adjustment continues, the trend of long and short battles eases, and the range convergence is once again approaching a directional choice!

20 Major Market Technical Chart:

1. After hitting a bottom last Monday on the daily chart, it clearly received strong support from below, and there is a slow recovery trend. Multiple dips have failed to break the previous low, indicating strong support.

2. On the four-hour chart, after experiencing significant volatility earlier this week, it has gradually entered a short-term triangle convergence range. The range will seek a breakout opportunity after continuous compression. The BOLL band has shifted from expansion to contraction, and the dulling of technical indicators and reversal in the short term will provide some directional guidance. However, the critical support or resistance levels after breaking the range will determine the main direction of the subsequent short-term trend.

For now, the principle of high selling and low buying within the range continues. If there is a breakout of the range limits, one can look at the key points above and below.

Regarding the trend: After the range convergence, the focus should first be on the upward pull, specifically looking at 106500-107500, with 107500 also being a recent high.

Regarding spot trading: Many friends are concerned or have asked about this issue. Below the 100,000 mark, the concentrated buying areas are below 74000, 74000-85000, and 93000-98000. Most people currently do not have the idea of selling in this area. The buying pressure above is concentrated in the range of 101000-105000, and above 108500 (which has already seen a concentrated sell-off once). Therefore, friends who have the intention to sell recently should pay attention to the 107500-108500 range.