Short-term Indicator Analysis

Daily Level: On March 1st, a large volume bearish candle appeared, establishing a downward trend at the daily level. On March 2nd, a small bullish candle is present, but the price remains within the body of yesterday's large bearish candle, indicating insufficient rebound momentum.

* Hourly Level: Continuous large volume bearish candles appeared at 14:00, indicating strong bearish force and that the market is in a rapid decline phase.

* 15-Minute Level: At 15:00, a large volume bearish candle appeared, followed by sideways movement at low levels, with no strong rebound, showing short-term dominance by the bears.

MACD: At the 15-minute level, both DIF and DEA are below the zero line, with DIF crossing below DEA to form a death cross and continuing to diverge downward. The MACD histogram is negative and expanding, indicating strong short-term downward momentum.

RSI: The 15-minute RSI oscillates between 30-50, once touching 33.73, approaching the oversold zone, but failed to form an effective rebound. Currently at 41.94, indicating a weak market.

EMA: The 15-minute EMA7, EMA30, and EMA120 are in a bearish alignment, with the price trading below all moving averages. EMA7 (1943.62) acts as immediate resistance, confirming a short-term downtrend.

Volume: Daily Level: On March 1st, a massive decline volume confirmed the bearish trend at the daily level.

* Hourly Level: The decline at 14:00 was accompanied by significantly increased volume, indicating heavy selling pressure.

* 15-Minute Level: The sharp drop at 15:00 was accompanied by huge volume, followed by a shrinking rebound volume, showing insufficient buying power and that rebounds in the downtrend lack sustainability.