The trend has confirmed a shift to bearish, and there is only one core operation: short high.
The logic is very clear, the daily double top is established: after the neckline is broken, the theoretical downside corresponding to the formation is being realized, this is not a pullback, it is a trend reversal.
The four-hour downward channel: the price is under pressure all the way within the channel, and the rebound can't even touch the upper track; every rebound provides better entry positions for bears. After breaking below the lower track, the space is completely opened up.
Market language: the sell order volume far exceeds the buy order, indicating that bulls can't hold on at all, and the market is under heavy selling pressure; even a small sell order can easily trigger a plunge.
Entry position: patiently wait for the price to rebound to the 2960-3020 range and short on highs. Do not chase shorts; wait for a rebound to provide a position.
Target position: the first target looks at around 2860, the second target looks at 2740. If the price strongly breaks below 2740, consider adding positions in the direction of the trend.
Long-term outlook: if the downtrend continues, the final target for this round of bears could be towards the 2400 mark.
Now it is a market dominated by bears; any rebound is for a better decline. Maintain patience, watch for pressure points, and execute the plan. I am Niu Ge, going with the trend.
