Kongtou continues to decline, losing the 90,000 mark, with southward movement now a certainty. Where to go next—northward?

In the early hours, the short sellers' volume decreased back to around 91,000, then dropped to about 87,800 before bouncing back to around 89,000 with sideways fluctuations.

From the weekly K-line structure, the Kongtou volume contraction divergence appears bearish, with the Bollinger Bands gradually moving downward. The MACD is diverging downward, and the KDJ is gradually forming a death cross and moving downward. On the daily chart, the Kongtou volume decreased, forming a downward cross that touches the lower band support. The MACD is forming a death cross and moving downward, while the KDJ is diverging downward with a death cross. On the four-hour chart, the Bollinger Bands are trending downward, with the price continuing below the lower band. The MACD has crossed below zero and is moving downward, while the KDJ is gradually forming a golden cross and moving upward. On the hourly chart, Kongtou has formed a "three-three" pattern with a pullback. Currently, the bears are reducing volume, forming three small consecutive bullish candles, with the KDJ gradually forming a golden cross upward, and the MACD gradually forming a golden cross upward. The overall market trend remains dominated by Kongtou, with some rebound, and trading should primarily follow the Kongtou pattern.

1.21 Morning Market:

Price around 89,500-90,000 with Kong, target around 88,500-88,000.

Price around 2,985-3,005 with Kong, target around 2,945-2,920.

Market volatility is high; pay attention to risk control and defense. Gains within the range can be secured.