On the daily timeframe, a 14-day candle closed with increased volume and a long bullish rise, then on the 15th it immediately closed bearish and pulled back. In the short term, the momentum for the bulls to push higher has clearly begun to exhaust, and the market has officially entered a period of a corrective pullback.

On the four-hour cycle, the MACD remains above the zero line in the bullish zone, but the DIF fast line is gradually approaching the DEA slow line. The MACD red histogram bars continue to narrow and shorten, and the upward strength of the bulls keeps weakening—signs of pressure on the rebound are clear.

Trading advice

On rebounds in the 64,800-65,600 range, open short positions in batches; downside targets are 63,500 and 62,500.

On rebounds in the 1,920-1,950 range, short accordingly; downside targets are 1,850 and 1,800.