The point mentioned at the end of yesterday's daily report "The 4-hour continuous oscillation, watching whether bullish or bearish sentiment will stimulate a market breakthrough first" Currently, it seems that the "ancient whales" changing hands are bringing short-term selling pressure. Personally, I believe that the whale handover brings about a short-term panic in sentiment, but the actual amount sold may not be significant. The simplest logic is that even if the whales' cost is low, they still hope to sell at a good price. If the price continues to fall, their direct selling of spot will inevitably be "self-sabotage." This logic is somewhat foolish; the patience of whales is better than that of most people, so even if they want to sell, they are more patient. The current price drop seems more like retail investors "overthinking" and trying to sell before the whales, which leads to increased selling pressure. The overall logic still continues to reference the daily line correction, while also continuing my viewpoint from last week, After a new high, reference the correction, prioritizing a "three-wave continuation correction." That is, after a new high, the first wave correction, the price short-term builds a bottom and rebounds without breaking the previous high in the second wave, and then we look at the performance after the third wave: will it break a new high after the continuation correction? Or will it continue into the fourth and fifth waves leading into a "bear market?" Generally, during a strong upward trend, it is usually after a three-wave continuation correction that the price continues to rise, which aligns with the current situation. At this time, the price is still in the first wave stage, and we need to pay attention to finding the turning point from the first wave to the second wave upward, which is the short-term bottoming position. For the downward reference gap: 114,300——115,790 If the gap price does not stabilize effectively, then focus on the daily Fibonacci support at 113,700. This position is the "golden support" position for the price's upward trend during the pullback, which is more effective compared to other supports and is also the watershed for whether the price will continue to decline!