1.7 Morning Analysis

The arc bottom appears to be taking shape, and consecutive positive candles have ignited bullish sentiment, but remember—how the price was rapidly pulled higher before, and how it encountered intensive selling pressure at dawn. This repeated oscillation is a typical washing phase, and the process is not gentle.

The early session tests the strong resistance around 93,500 again. Historical multiple surges and pullbacks have proven that resistance at this level is effective. The current technical structure remains pessimistic: short-term moving average death cross suppresses rebound space; the rally lacks volume support, showing obvious volume-price divergence; coupled with accumulated profit-taking chips at high levels, market sentiment is fragile and easily triggers selling.

Overall, the current rebound is more likely to become a window for the bears to accumulate strength, rather than the beginning of a trend reversal. Before new capital clearly enters the market, maintaining vigilance is far more important than following market sentiment.

Operation Suggestions
Short near 92,900-93,500 on rebounds, targets below 91,500-91,000, break below and continue to look at 90,000.
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