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After a surge in the early morning, the market did not continue its strength. It shifted into a volatile downward trend in the early session, currently pausing around 95,000. Such rebound and pullback patterns are often technical corrections during trend continuation and do not alter the overall structure.
On the four-hour chart, after reaching a high, the price closed with a pullback bearish candle. It has now broken below the upper band of the Bollinger Bands, but the candlestick shows a clear lower shadow, indicating buying support at lower levels. The short-term downside space is limited, and the overall pattern remains dominated by the bulls.
It is recommended to go long around 94,500 and 94,000, with the first target at 97,000, and a breakout to the upside towards 100,000.