In the K-line structure, after a sustained bullish trend, there has been a high-level consolidation, but a significant long bearish candle appeared, followed by a retest of the previous support zone around 4560, then a quick rebound. The game at this position is still quite strong.
In terms of moving averages, the short-term moving averages (5/10) show signs of a death cross during the downtrend; the medium-term MA (30/60) is still opening upwards, indicating that the overall bullish structure has not been completely destroyed, but the short-term has entered an adjustment phase.
The open interest experienced a cliff-like drop during the sharp decline, indicating that some bullish funds are passively reducing positions or stopping losses. During the rebound phase, the open interest did not immediately recover, which may limit the height of the rebound.
The trading volume spiked during the down K-line, especially when breaking key levels, indicating active selling pressure; the volume during the rebound phase is clearly insufficient.
In summary, long positions need signals, and the focus should shift to short positions in the future.
