In the market on the night of December 23rd, the short positions pattern has already taken shape, and the momentum continues to strengthen after the downward breakthrough. Don't be fooled by the rebound; it's all preparation for the next wave of fall.

On the four-hour K-line, it keeps testing the support level below, and the pressure pattern is very obvious. The bulls want to rebound but can't move, and the short positions structure is very solid. The MACD has already shown a top divergence, and the indicator has been moving towards the zero axis, indicating that the strength of the shorts is still being continuously released.

At the hourly level, it is clearer — short positions are completely in control of the rhythm, and the price has been pressing against the zero axis, with any rebound appearing weak; as soon as it rises a little, it gets smashed down. The market sentiment has clearly become much more cautious, with large funds pulling out. Although we haven't seen a major panic yet, this ongoing fall has already reinforced itself.

The technicals and funds are singing the same tune—short positions need to continue. Those rebounds are just technical corrections during the fall, so don't overthink it. There is only one strategy for trading: consider going short on rebounds, and definitely don't foolishly try to catch the bottom. Once the key levels below are broken, the decline may continue to expand. Currently, there are no real signals of a bottoming out; until a trend reversal appears, it's still most reliable to follow the market rhythm.

In simple terms, there are no signs of a decrease in the energy of short positions, and the downtrend channel remains intact. Any rebound in the near future will be an opportunity to enter short positions. Investors need to closely monitor the competition for trading volume and key price levels, and must strictly control their risk exposure.