Right now, we’re just waiting for the price to break below 65,300 before we start entering a truly bearish downtrend. The overall market is still consolidating, and before it sees a liquidation-driven sell-off on the back of a very large volume, I still wouldn’t dare to say the market is looking good.

The liquidity around 65,300 is currently the highest, and it’s also the target level to be liquidated. But what also needs attention is that, during the decline, the number of short-sellers keeps increasing, which could cause a slow, grinding drop—continuously pushing upward with spike moves—leading to ongoing market choppiness.

Be patient and wait for the consolidation to end, and let the market itself figure out and form the trend. Right now, it’s in a “monkey market” structure, so it’s recommended not to take short-term trades. High-level short positions can be held.