August 23 Big Cake

After a significant upward movement on the four-hour chart, the big cake is currently undergoing a minor adjustment despite signs of stabilization. However, the long upper shadow indicates strong selling pressure above. In the short term, it continues to hover around the middle band of the Bollinger Bands, showing weakness in upward movement, with an overall bearish sentiment. The current KDJ indicator is gradually descending towards the zero axis, and it is highly likely to continue this downward trend. It is crucial to closely observe the strength of any pullbacks and break levels, and to maintain strict defensive measures.

Suggestion: Short positions around 116,000 on a rebound, targeting around 114,000 below.