The short positions established in batches near 93200 in the evening have already been closed. The volume shows divergence, and the market is unlikely to break further downward. The lower area is filled with shorts waiting for a further drop, and rather than stubbornly resisting, it's better to take profits when the market turns favorable. This decision is a sign of respect for the market.

On the hourly chart, the shorts that were chased in from 90000 have not yet been liquidated. Several downward attempts have been pulled back, as if the main force is repeatedly诱导 short-sellers to add positions, while continuously lowering their liquidation prices. But the key point is, those caught in the trap have no real chance to escape.

The main force's tactics seem to aim for another upward push. First, to completely break the psychological defenses of those holding positions; second, to exhaust the buyers waiting for the "trap" opportunity below. The true end of this correction may require both goals to be achieved.