After breaking below 84,000 at the four-hour level, it is currently stabilizing above the short-term support at 83,000, which is the lower edge of the VPVR large trading area, and is showing an oversold condition in the short term. The MACD's downward momentum is weakening, hovering around 40, approaching the oversold zone.

The KDJ indicator is turning up from a low position, suggesting a possible technical rebound, but so far it seems futile. The Bollinger Bands are widening, with the midline pressure moving down to around 85000, and the lower support at 82000 is the institutional holding cost zone.
On the daily chart, after two days of rising, a bearish engulfing pattern reappears, breaking below the EMA50, indicating a weakening short-term trend. The trading volume has increased compared to the previous days, showing heightened selling pressure, but the OBV indicator has not made a new low, suggesting that capital outflow has somewhat eased, and further observation is needed.
The resistance level is 85000, which is the middle band of the Bollinger Bands on the four-hour chart. Short sellers may consider entering with a light position. The rebound resistance at 85500 is a densely traded area above, while 85800 can serve as a stop-loss reference. A breakthrough at this level is needed to alleviate the downward pressure; otherwise, it may test the intraday support near 83000 again. A break below this level could lead to a waterfall decline, aiming for 82000.