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Currently, there are two situations. The recent decline is mainly caused by short covering.
One is breaking below 73,500 to chase short positions on the right side, and the other is after a rebound without making new highs, then directly taking left-side short positions.
The previously mentioned shorts at 77,000 and 80,000 are left-side trades, which carry higher risk. It’s essentially betting that the previous resistance remains effective; if not careful, you could get trapped or hit stop-loss.
The right side, on the other hand, is about following a clear trend, mostly resulting in small losses or profitable positions once entered.
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