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 to 77,165, creating a false impression of a breakdown. But just 15 minutes later, the price quickly V-shaped reversed and stabilized above 77,244, now at 77,676.
Nature Definition: This is a standard “short trap.” The main force used the break below 77,244 to wipe out aggressive longs’ stop-losses and lure shorts to chase, then quickly pulled up.
Current Pattern: Since it has regained above Target 2 (77,244), the short-term crisis is temporarily resolved. The current market has entered a wide oscillation box between 77,244 and 79,344. The bulls’ current goal is to once again push towards the upper levels of 78,500 and 79,344.
1. Support and Resistance Levels (Feiyu Late Night Calculation Version)
🟢 Short-term support (1-3 days, intraday)
77,244: Immediate support (Target 2). The yellow line in the middle of the chart. Having just tested a “false breakdown,” the support strength is now stronger than before. As long as this holds, the bulls control the market.
76,244: Core support (Target 1). The yellow lines above and below in the chart. The absolute bottom line of this correction.
75,800: Intraday pin defense level.
🔵 Mid-term support (1-2 weeks, swing)
74,295: New iron bottom. Yesterday’s lowest point, establishing the bulls’ stronghold.
72,000: Extreme target of Wave C.
69,000: Previous high.
🔴 Short-term resistance (1-3 days)
78,500: Immediate resistance. The previous rebound’s second-highest point, also the pressure at the middle of the box.
79,344: Core resistance (Target 3). The yellow line at the top of the chart. Tonight’s highest point, with very tight short defense, requires high volume to break through.
80,000: Psychological threshold, lifeline.
🟠 Mid-term resistance (1-2 weeks)
82,000: Fibonacci 0.618.
84,500: Box pressure.
86,000: Trend reversal point.