This level will likely surge higher with a good probability. The 74,000-74,500 range should still provide another opportunity. There's a decent chance of breaking above 75,000 later on, but it may not happen in the next couple of days. More likely, we'll see consolidation here first, shaking out the weak hands, and then punching through 75,000 in one decisive move.

Although short-term momentum is strong, the risk-reward ratio for chasing here is no longer attractive. Once a few consecutive large bullish candles appear, people who missed the earlier move will easily start FOMO buying, especially those who waited for lower levels and were ultimately forced to miss out—their emotions will become increasingly impatient. Many people sold positions during the panic, and when the market rallies, they'll easily chase back in at higher levels.

This rally will likely continue, with 74,000-75,000 remaining the key zone. Short-term momentum is strong, but this is no longer a position suitable for mindless chasing. After this rebound completes and consolidates for a period, watch for the third wave of downtrend to begin.

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