Let’s talk about the next weekly level.

My opinion is that we cannot hastily judge that the short-term bottom will definitely fall below 2w5, but it is possible in the first half of next year. As long as the 2w5 position is broken in the future, there is no strong support below, so there will be a huge decline downward. In the short term, we still look at the support below 25,000. Will there be a huge rebound at the support, opening an upward trend to break through 32,000? I think the probability is very small. Judging from the recent performance, the weekly line closed positive last week, but it did not close positive this week, and its increase was very small compared to the past, so this can only be regarded as a normal upward retracement in the short structure, so in the big trend, I think it will go down. The first target in the short term is still 25,000. If this is lost, the downward decline is unimaginable.

From the end of last year to the first half of this year, there were three rising waves. Each time the high point of the wave was broken, the support was verified, and then the previous high was tested. When the test of 31800 failed to break through, it meant that the long structure had been completed and ended. Then it entered the short structure. Overall, although there was no downward break in the range of 31800-25000 for the time being, the recent rebound is actually nearing its end. Therefore, the recent downward target is still to look at 2w5 first. If it still cannot break down here, it will continue to look at convergence, but it is very difficult to break upward.

Just like I said a few days ago, if your pattern is only one or two days, or a few days of short-term, then you are bullish, because the recent rebound is an upward retracement in the overall bearish trend. If your pattern is one month or half a year, then you are bearish, because the general trend is still bearish.