Today’s market—another wave coming up..

Today’s CME—originally expected to be 74.5k—was already smashed down to it before the opening..
After CME opened, just as expected, another wave of dumping smashed out an entry point..
( This is also the pattern from the recent period. It mainly shows up on weekends when the price drifts lower or during big sell-offs, causing CME to gap down on Monday—leading some CME overnight long positions to get stopped out with a wave of selling on Monday..）
Subsequently, it rebounded driven by a rebound in US stock futures and by news, but it was still suppressed/held down, just like yesterday, by the previous day’s POC.
(Chart 1)
Similarly, the 73k range is also a zone that the bulls don’t want to easily give up...
Once this breaks, it becomes easy to see a reversal back to the range below...
See Chart 2
For the rest of this week, it will still largely be driven by news.. After tomorrow’s ceasefire deadline expires, whether it will be extended, and whether negotiations will continue.. both will affect the direction of prices..
The three gap zones above and below are all potential areas to watch this week (Chart 3)
If we look at it from a bigger-picture perspective..
In this upswing, each leg up is followed by a pullback after a 7% rise...
If this week’s news can keep turning positive, and liquidity (ETF and MSTR) can keep being strong—then if we get another 7% leg up, it will land right near the major psychological level around 8W.
(Chart 4)
To be continued. In the next post, I’ll continue writing from the micro-level perspective.