From the 15-minute chart, the big pie did not move in a single direction after the US stock market opened last night, but rather showed typical back-and-forth between bulls and bears. The price repeatedly contested around the middle Bollinger band, with weak rebounds and insufficient upward momentum. Essentially, it is building strength for a directional choice in the later part of the night. During the early morning phase, the bears took the lead, causing the price to break below the middle band and quickly dive towards the lower band, reaching a low of around 87800, completely opening up the bearish structure.
From a technical structure perspective, the overall Bollinger Bands are opening downwards, with the middle band continuing to press down, and rebounds are consistently constrained by the middle band and the upper moving averages. The current rebound is more of a technical repair after a decline rather than a trend reversal. As long as the price cannot effectively stabilize and hold above 89000, the overall mindset remains bearish.
In terms of operational suggestions, focus on the rebound pressure in the 88800–89200 range in the short term, and near this area, consider high short positions as a priority; below, pay close attention to the support at the 87800 line. If the rebound lacks strength and breaks down again, there is still room for continuation of the bearish trend. Overall, do not chase the rise or try to catch the bottom; allowing room for a rebound and following the trend with short positions is currently the more prudent choice.
