$60,000-$70,000 is an intense chip zone and also a stage for the tug-of-war between bulls and bears. $53,000 - $56,000 is the last line of defense that must be held, not only as technical support but also as the psychological bottom line for institutional positions. The current decline is a bubble burst and also a gift to those who truly believe in the long-term cycle. Even at the most extreme pessimistic point, it is a "golden pit," not a "bottomless hole."