Right now, we’re still waiting for a break below 65300 before a real downtrend really starts. The overall market is still consolidating. Before the massive volume surge leads to a sell-off, I still don’t dare to say the market outlook is good. Liquidity around 65300 is currently the highest, and it’s also the target level for liquidation. But what also needs attention is that as the market falls, the number of shorts keeps increasing, which may cause a slow, grinding decline—constantly pushing upward with upward wicks—leading to continued choppy price action. Be patient and wait for the consolidation to end, and let the market work out the direction on its own. Right now, the market structure is that of a “whipsaw”/choppy trading environment. It’s recommended not to take short-term trades; high-level short positions can be held.

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