Thursday: Fluctuating upwards but facing resistance, the pullback is still in progress

The way down is definitely easier than the way up. The way up requires a breakthrough at every step, with numerous difficulties, while the way down is accompanied by the wind at every step, ready to fill with power at any moment.

In the early market, the trend consolidated around the 100,000 mark, showing a strong potential to break through and soar. However, the technical structure did not provide support. I repeatedly emphasized caution in chasing long positions. After ten rounds of direct short selling, we secured 1,100 points. That's how the market works; without technical structure support, nothing matters.

From a technical structure perspective, at the four-hour level, the price is consolidating at a high level under pressure at the 100,000 mark. It seems that the demand for a breakthrough is strong, but there is no momentum to push it forward. It has been in a state of consolidation, with strong fluctuations in the short term, making it difficult to stabilize and rise. Under the influence of bearish volume, a gradual downward trend is forming. The upward tests have clearly become difficult to break through, and the next step is a downward trend.

In the afternoon, we maintain our high short position:

In terms of operations, I personally suggest shorting in the 98,300-98,800 range, and 97,300-96,800.