One-sentence summary of the current short-term market: It is at a point of balance between bulls and bears; if it cannot break through effectively, the decline will continue.

Indicators: 1D MACD has a death cross below the zero line, indicating selling pressure; 1D RSI has a death cross and retests without breaking above it.

Wave analysis: Currently in a rebound against the decline segment from 76,000 to 67,300.

Fibonacci: The rebound precisely hits resistance at the 0.5 level of the overall downtrend.

Watch points: 71,700 — On the 4H chart, if the 1D closes above this level, the rebound will continue; otherwise, after the sharp rally's 4H indicators digest, the decline will resume.