This week's market finally gave the bulls an explanation. The volume of the third wave was released in a natural manner, and the losses were kept within an acceptable range. From the K-line trend, the recent peak of this upward movement coincides with testing the Fibonacci 0.618 level of the previous cycle—which is around the 97,000 price level.

Next week will be crucial, as the 9.7 level will be tested again. If the second test still encounters resistance, we can plan our mid-term entry strategy based on this level. From a short-term perspective, although there is ample buying interest from the bulls, there are also signs of excess. If the price pulls back to around 9.3, that would be a good short-term opportunity for a rally.