The market yesterday was a typical example of a dramatic reversal. In the morning session, long positions once displayed a strong offensive posture, with several k points of pump resembling a surging flood, breaking through multiple key resistance levels from earlier. Market sentiment soared, and many investors believed a new round of pump had already begun. However, just as the momentum for long positions was at its peak, short positions suddenly made a strong push like a lurking beast, launching a counterattack with immense force. Starting from the afternoon, sell orders continued to flood in, and prices retreated like a receding tide. By the close, the several k points of rise that long positions had managed to secure were completely reclaimed by short positions, and the earlier breakthrough results vanished into thin air.

From the daily level, such a trend leaves a distinctive mark — a long upper shadow accompanied by a bullish-to-bearish pattern. This upper shadow is like a striking warning sign, indicating that there is strong selling pressure above, and reflecting that the longs are struggling after facing fierce attacks from the shorts at high levels. The transition from bullish to bearish signifies that the market, after intense competition, has temporarily favored the bears. The hourly level trend more directly showcases the dominance of the bears. Since the high point and subsequent drop yesterday, the hourly chart has shown a continuous downward trend, with almost no significant rebounds. Every brief stabilization is quickly suppressed by new selling, causing prices to continuously hit new daily lows, forming a clear structure of pressure and decline. This continuous drop not only releases the energy of the shorts but also weakens the short-term technical indicators, further reinforcing the momentum for a pullback.

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