2.4 The trend has worsened, and all rebounds are illusions. Trend judgment dead: The weekly 20/60 moving average death cross has penetrated, and the support at 74,500 has been breached. Structurally, a Lower Low has already been created, and the bearish trend has shifted from expectation to reality. Time for space: Large-scale adjustments do not happen in a 'lightning war'; the next two to three months will only be a digestion period. The real bottom is still far away, and panic has yet to peak; the second half of the year is the time to look for left-side opportunities. Defensive position under pressure: The resistance range is firmly locked in at 81,000 - 84,000. High points are declining, low points are sinking; do not be blinded by temporary red bars; rebounds are opportunities for bears to add positions.

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