The short-term bearish signal for the second pancake is fully charged; the rebound is purely a trap for bulls, do not blindly enter long positions. The daily chart's previous consecutive bearish candles set a bearish tone; a single day with a long lower shadow is merely an emotional pullback. The core resistance at 3100-3150 has not been broken, and funds fundamentally do not recognize the rebound.
The four-hour descending triangle structure is clear, with highs gradually declining, indicating the weakness of bulls. The support at 2870 has been tested multiple times; a significant breakdown would signal a new downtrend. The KDJ turning without support, and the MACD green bars shrinking indicates consolidation. Bearish momentum could rebound at any time; the second pancake is essentially a tool for capital withdrawal, and there will be selling pressure during the rebound.
Trading advice: Short near 3030-3070, targeting 2930-2870-2800; if it breaks down further, continue downwards to securely take profits.
