The two-day chart has entered a seriously overbought zone at the 15-minute level, with strong profit-taking demand from the bulls.

Price tested the 2340 level twice but failed to break through effectively, and the volume during the second surge was significantly weaker than the first, forming an initial double top pattern.

This indicates that the selling pressure above has been fully released, and the bulls are completely unable to absorb it; the rally is merely a trap set by existing funds to lure in more buyers.

In the short term, the moving average, after touching 2341, has started to flatten, and the momentum of the medium-term moving average's upward movement has clearly slowed down. The gap between them is continuously narrowing, and a death cross is imminent.

The bullish arrangement of moving averages supporting this rebound has already failed, and a trend reversal signal is taking shape.

Trading Strategy

Short positions around 2350-2380, targeting a decline to 2300-2250, with a continuation to 2200 if broken.