That long lower shadow yesterday—does it mean the correction is over? Is it time to chase longs now?

From a price action perspective, the signs of a bottoming out and rebound are quite clear. The key is whether we can hold above 92,000 today—if it breaks through and holds, that's basically a bullish confirmation signal.

However, the 92,000-92,600 range won't be easy to get through. This is a clear resistance zone, and it's likely there will be repeated back-and-forth action. So can you short directly here? My view is: don’t rush to open a position. Unless there’s a clear bearish pattern (such as a false breakout plus declining volume), shorting here is a bit of a gamble. After all, whether the main players decide to pump it can change in an instant, and for now the bulls still have the upper hand.

If there’s a rejection and pullback from 92,000-92,600, look for support around 90,200-90,500. This range has both previous high-volume support and a good risk/reward for testing longs. But keep in mind: once 90,500 is broken, the balance of power between bulls and bears could shift again, and going long at that point requires extra caution.

Overall, the probability of a bull trap is low, and the odds of moving higher are greater. Even if we don’t break 92,000 in the short term, the overall bias remains bullish in this consolidation. If we can maintain this steady upward rhythm, a move to 96,000 or higher this month is entirely possible.