After the price fell back to test the support of the 8-hour EMA52 line, a rapid rebound formed at the hourly level. Currently, the 8-hour MACD is still returning to the zero axis. If a golden cross occurs, then the 8-hour rebound will be effective, and the price may further rise; however, breaking the previous high seems a bit difficult, as the upward momentum at this level is insufficient, so we can only observe for now.
The daily MACD shows a weakening momentum at a high level, with the fast and slow lines about to form a death cross. The daily level adjustment will continue.
In the short term, the trend is mainly oscillatory, waiting for increased volatility, continuing to reduce positions in batches during upward movements, and waiting for a significant pullback.
Near the MA30 line on the daily chart, which happens to be near the upper edge of the red box (164-168), a short-term long position can be taken (targeting around 183).
Daily level resistance at 193-210-220, support at 175-166-156-145.
