Wednesday Morning Market Outlook

Overnight market momentum showed clear divergence, with the Asian and European sessions generally subdued. After the US stock market opened, volatility quickly expanded, with prices initially rising to around 76,000, but facing obvious selling pressure above, then gradually falling back to around 73,700. The overall trend aligns with the high-altitude short-selling strategy emphasized multiple times yesterday.

From a structural perspective, the 76,000 level has formed an obvious "double top" resistance. Without a volume breakout and a firm hold above, the bulls will find it difficult to reopen upward space. The daily candle closed with a long upper shadow, indicating heavy resistance at high levels and a weakening of upward momentum. The four-hour rally failed to continue after a surge, showing signs of short-term stagnation, and the rebound strength is gradually diminishing.

Overall, the current trend leans toward high-level oscillation with a bearish bias. It is not advisable to chase longs further; continue to focus on shorting rebounds.

During the day, consider partial short positions around 74,500-75,000, and watch for pullbacks to the 73,000-71,500 range.