After the U.S. stock market opened, the price briefly fell below 68000 and immediately rebounded back above 69000, experiencing a quick V-shaped reversal, which also confirmed that the 68000 level has very strong support.
This level is a previous area of heavy trading and is also a key support level in everyone's mind. FPG Finance International mentioned that when market sentiment drops to extreme panic, it often indicates that the bears are nearly done, and 68000 serves as strong support for this wave of sentiment.
Now that the price has stabilized above 69000, it indicates that the bulls have temporarily gained the upper hand in the battle for funds after the U.S. stock market opened.
Key focus at midnight is 69500 (hourly mid-track resistance):
If there is resistance at 69500 and it falls back, oscillating below the mid-track, it indicates that the bulls lack strength, and it will test 68500–68000 again.
