The daily chart can be described as a horizontal consolidation, but it's a low-level oscillation. Old Xiao's technical theory mantra: In a large-cycle trend, after a prolonged low-level oscillation, a long consolidation leads to a fall. So the current movement still follows normal logic and has not exceeded expectations. At the same time, the longer the oscillation, the greater the acceleration after the breakdown. It just needs a catalyst. In short, as I always say, it may be late, but it will not be absent. Wait for the breakdown, wait for the acceleration, wait for a lower point, wait for a more favorable position!

On the weekly chart, a single bullish candle turned into consecutive bearish candles. The bearish candle that pierced the bottom did not accelerate, but its lower shadow is very short. Except for not closing below 59000, all evidence points to a breakdown of the bottom. According to high probability, this week is expected to continue the decline, with 55000 at the bottom as the first target. Yesterday, I also mentioned the resistance at 64000, so basically the high and low points are defined. I emphasize it again today because of the monthly close. These two days are very important, and it is very easy to see sharp rises or falls. However, the overall trend will not change. It's just that if there is a rebound, it's a matter of degree, just a definition of the starting point.
In the case of a sustained rebound, I believe positions like 61000 are still very strong resistance. Prices rise slowly but fall quickly. When given a strong and effective resistance point, we still look for a decline. So, no matter what, we should mainly be bearish! For support below, focus on the breakdown of 58000. If it breaks, the minimum acceleration is in the 57000-57500 area. If it happens during the US session, there will be greater momentum, such as the 55000-55500 area. If you want to be conservative and try a rebound, I think you should wait for the 55000-55500 area, which is relatively safer.
Wednesday, good luck to everyone.