Market Review and Current Trends

100,000 breakdown verification: Last week's viewpoint was validated, the price rebounded after breaking below 100,000, but the bottom did not show strong volume, indicating weakened demand below, and the overall trend remains bearish.

- Rebound expectations and limitations: After breaking 100,000, there may be a short-term rebound, but if the rebound strength is insufficient (e.g., not reaching 104,000-105,000), it may continue to decline.

Key support and target levels

Short-term rebound resistance: reference Fibonacci 0.5-0.618 retracement levels, resistance is at 104,000-105,000, but if the rebound near 100,000 is weak, it will be difficult to break through.

Support target below: Look for 89,000 - 93,000, this range is the 0.5-0.618 retracement level of the previous upward movement and is also the key support for the double top neckline.