6.3 Morning Market Analysis

4-hour chart, after the price was pressured from the high of 74,200, it continued to decline steadily, with bearish selling pressure gradually releasing. The price repeatedly rebounded but was blocked by the middle band of the Bollinger Bands, with obvious resistance, and the center of gravity kept moving downward.
In the evening, the bears concentrated their efforts to push the market down rapidly. After dropping to a low of 66,100, short-term selling pressure temporarily eased. The price found support at the low level to halt the decline, entering a technical correction phase of range-bound oscillation.
On the larger cycle, the bearish trend structure is intact, with moving averages diverging in a bearish arrangement. The fundamentals and technicals resonate with negative signals, and the bullish momentum is severely lacking. The short-term rebound is only a phase correction and cannot reverse the overall downward trend.

Trading Suggestions
Short around 67,000-67,300, targeting 66,000-65,000.