Don't be fooled by the short-term fluctuations of the big pancake. The daily double long upper shadow bearish candle pattern has vividly demonstrated the weakness and struggle of the bulls. Every attempt to push higher ultimately falls victim to precise bearish suppression.

The price is struggling along the lower band of the Bollinger Bands, clearly showing a weak trend. This is not a temporary correction but a genuine trend direction. Looking at the four-hour level, the defeat when the price hit the upper boundary of the upward channel already indicates that the bullish momentum has been exhausted. The Bollinger Bands spreading downward with three lines further confirms the strongest sign of a bearish trend.

Short-term technical repairs are just a detour in the decline process. Do not mistake rebounds for signals of reversal. The rebound height is limited; every surge is a golden opportunity for bears to set up. Following a high-selling strategy, in a weak market, do not speak of a bottom; only then can you steadily grasp the market rhythm.

Trading suggestion: Short around 88200-89000, targeting 85200-83000. If broken, continue downward. Long-term target: 74000.