Today, the spot premium began to rise, while the price action did not continue the trend of a significant decline in volume. Instead, there was a rebound with volume afterwards. Although the bearish structure continues for now, I always feel that it is impossible to create a "major drop" market here.

Future thoughts:

1. If the weekly chart is forming a continuation structure of a decline, then it will maintain a fluctuating downward trend, gradually approaching the previous low position before truly breaking down.

2. However, if the price can rebound back to the middle track this week, then it will still be a large range fluctuation structure, meaning that the expected rebound above 100,000 is still possible...

To be honest, from a long-term perspective, I still tend to be bearish, but I can't help but feel unwilling because there hasn't been a strong rebound that gives people "renewed hope," similar to the structural trap on March 27, 2022...