From the high of 71582.9, there has been a continuous decline with no effective rebound, showing a one-sided bearish trend with consecutive large bearish candles crushing the market and bulls showing no resistance.

The key support level at the 70000 round number was broken through on increased volume, with the lowest test reaching 69438.0, currently consolidating weakly at 69956.1.

On the 15-minute timeframe, a long bearish candle bottom-fishing plus small bullish recovery has appeared, forming a typical "weak rebound after sharp decline" pattern, with extremely weak retracement strength and bears still in control.