Monday Analysis: After a rise and pullback without recovery, further declines may continue this week

A week of change has passed, and a new week begins. Recognize that the current situation is not a raging bull; do not chase highs, but grasp the short-term trend.

From a technical perspective, the four-hour chart shows prices spiking and then plunging, indicating a need for consolidation and correction, with no significant rebounds. The upward movement is hindered, and the short cycle leans towards bearish retracement, with potential for further declines. The one-hour chart shows price consolidation with recovery hindered, upward movement is weak; although bearish momentum has not continued to decline, the bullish energy is weakening.

Today's short-term strategy: Short at the high recovery resistance area.

Operational suggestion: Short at 117500 - 118000, with a target of 116800 - 116300, and a swing target of 113800.