8.20 Midnight Big Pie:

The 4-hour chart of Big Pie currently shows a bearish dominant pattern, with the middle band of the Bollinger Bands continuously declining and forming a medium-term trend anchor. The upper band is expanding upwards, while the lower band is accelerating downwards, creating an overall opening that is diverging downwards, indicating that the momentum is still being released.

It has been running in the middle-lower band range for a long time, and each time it rebounds to the middle band, it encounters strong resistance and falls back. After the short-term moving average forms a dead cross with the medium and long-term moving averages, they move downwards in sync, creating multiple layers of pressure.

The volume structure also shows characteristics of "increased volume during declines, reduced volume during rebounds," indicating that selling pressure has not yet been fully released, and the buying support is relatively weak.

Short positions near 113450～113800, target focus on 111650

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