Summary: After a prolonged period of consolidation, the price has broken out of its wide trading range. Current bearish momentum is strong; the price is likely to oscillate within the narrow range of 77,955–76,327, with a high probability of testing 75,000. Previous Review: Twenty days ago, it was noted that the long-term trend remained weak. Since the last update, the price has declined from the 84,000 level to below 78,000, effectively exiting the major consolidation range. Future Outlook: Order Book Vacuum Short-term: Bullish pressure at 77,165 is weak; expect a brief rebound. Medium-term: All bullish attempts above 77,000 have been overwhelmed; downward trend confirmed. Long-term: All bullish attempts above 78,000 since September 18 have been invalidated; support has been filled, and the trend remains downward. Combined indicator: Short-term minor rebound expected; although no clear bearish attack has yet emerged, the overall trend is likely to oscillate downward. Price Channel Short-term equal-volume average: 73,080; upper bound: 89,430; lower bound: 62,060. Medium-term equal-volume average: 76,380; upper bound: 87,130; lower bound: 61,300. Long-term equal-volume average: 84,780; upper bound: 112,120; lower bound: 76,900. Combined indicator: Price has shown significant volatility, but medium- and long-term movements remain relatively contained. The medium- and short-term averages of 76,380 and 73,080 still act as support. The long-term trend remains weak but has now reached its lower bound at 76,900. Support is expected between 76,900 and 76,300; a bottoming-out consolidation is likely for now. Limit吞噬 (Limit吞噬 = Price Absorption) Short-term: Bearish pressure between 78,724–77,910 may test historical bullish support at 76,037–75,500. Medium-term: Bearish trend from 80,832–77,955 confirms downward momentum. Long-term: Bearish pressure from 80,832–77,955 represents the largest bearish move since the August rally. If this zone remains unbroken, the trend will continue downward toward historical bullish support at 76,327–74,490. Combined indicator: Downward trend persists; price is expected to oscillate within the narrow range of 77,955–76,327. As long as 80,832 is not breached to the upside, the trend will continue downward—first testing 76,000; if it fails to recover, 74,500 will be broken. Comprehensive Analysis: Offensive Side: New Bearish Pressure Bearish Resistance Levels: 89,430, 87,130, 84,780 Bearish Strength Zones: 78,724–77,910, 80,832–77,955, 80,832–77,955 Defensive Side: Historical Bullish Support Bullish Support Levels: 77,165 (new), 76,900, 76,380 Bullish Strength Zones: 76,037–75,500, 76,327–74,490 Battlefield Dynamics: Strength Comparison: Bears 73.45%, Bulls 26.55% Dominant Side: Bears Primary Battlefield: 77,955–76,327 Expected Winner: Bears Winning Conditions: Bear Victory: Price falls below 76,000 and fails to recover—further decline toward 74,500 likely. Bull Victory: Price holds above 78,000 and reverses upward—break above 81,000 confirms bullish reversal.