This is not only the launch low point from the early uptrend, but also the defense level of the current large-scale bullish structure. As long as the price does not effectively break below 62500, there is still a possibility for a renewed upward run afterward.
However, it’s important to note: If 62500 doesn’t break, it only means the bullish thesis hasn’t been invalidated, but it does not mean that the moment price touches 62500 it will definitely go up.
Personally, I would consider trying to go long around 62500, but I would treat it as a “key support zone battle” rather than an unconditional bargain-buy.
My trading approach is roughly in two parts: The first is an aggressive approach: when the price is close to 62500, I would try entering longs in small-sized batches, accepting in advance that there may be wicks that sweep stop-losses or a brief breakdown.
The second is a conservative approach: wait for the price to test 62500, and then, after signs such as a breakdown-and-reclaim or a shift back to bullish in the lower time-frame structure, consider entering.