Sometimes if we feel too tired, we should just take a good sleep and not blame ourselves too much. Everyone makes wrong choices at times, sheds tears for no reason, and can feel overwhelmed by the little things in life. So there's no need to force ourselves to be perfect; take some time to enjoy the evening glow and let yourself fall in love with this world again.

After the market experienced a rebound over the past two days, it began to slightly retreat again yesterday after reaching a high point near 113500. It is currently operating around 111500. You can refer to our analysis in yesterday's article; according to the current trend, it is basically what we hoped to see. However, we need the strength of this pullback to increase a bit more to better align with our expectations. From our previous short positions above 113000 and based on yesterday's liquidity distribution, the approximate short-term liquidity concentration is around 113500, followed by a decline in buying volume. The initial pullback has already occurred, and we need to continue observing the sustainability of this pullback to see if it can refresh the low points, perfectly fitting our overall operational strategy.

Returning to today's market, let's first look at the liquidity distribution. Currently, with the market's pullback, there is a situation where both long and short liquidity are densely distributed in small amounts in the short term. The short-term short liquidity above has seen a significant increase compared to yesterday, and the liquidation intensity has moved up to around 114200. Most of this new liquidity was created during yesterday's rebound process. Similarly, at the current position, there are fewer short positions being liquidated above, perhaps because the pullback did not reach the target point. The short-term high-leverage long positions below have basically been liquidated, and the long liquidity below is relatively dispersed, with some long liquidity existing below 110000. However, it is important to note that the current spot premium has stabilized, and there has not been a significant decline during the pullback. This situation may indicate that funds are slowly entering the market, so at this stage, we can look bearish but not overly so. The strategy remains unchanged from the past two days: wait for a pullback and then look for a rebound.

On the technical side, there hasn't been much change at the daily level. During yesterday's rebound, we needed to focus on whether the daily line could stand above the MA7 line, but ultimately it failed to do so, leading to another pullback today, with the price continuing to be suppressed by the MA7 line. For the short term at the daily level, it is getting closer to testing the support of the MA120 line around 110000 again. In terms of technical indicators, the MACD continues to operate in a bearish cycle, and the volume bars are starting to converge. Therefore, we still believe that after the pullback, the daily cycle will reach a turning point into a bullish cycle. The subsequent indicators on the daily line may still show a weak rebound, but it will still be a rebound, so we should look forward to it.

At the four-hour level, the trend of pullback after the rebound has become quite clear. The MACD is about to enter a bearish phase from a high bullish cycle, which aligns with the normal market trend. It is important to note whether the pullback will continue to refresh the low points, as the four-hour chart has been in a continuous trend of refreshing low points recently. As the four-hour chart begins to enter a bearish cycle, there will still be downward space ahead, and there are no other significant changes.

In terms of operations, it is relatively simple. For short positions above 113000, set a trailing stop to protect profits and continue to hold while watching the pullback. As for the long positions, the current psychological expectation is still to wait for below 108000 to make a layout. If there are any other changes in the market in the short term, we will adjust our operations based on the actual trend.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article has been reviewed and published, and the market changes in real-time. The information may be delayed, and strategies may not be timely. Specific operations should be based on real-time strategies. Feel free to contact us for market discussions.】

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