From the market perspective, the 15-minute K-line shows a continuous downward trend with consecutive declines, with moving averages pressing down all the way, and the strength of the rebound is weakening, indicating that the bulls no longer have the power to fight back. It is highly likely that this oscillating downward trend will continue. Every small rebound now is essentially an entry opportunity for the bears, not a reversal signal.

Recommended actions: Aggressive traders can short directly at the current price of 712, while conservative traders can wait for the price to rebound to around 718 before entering. The initial target is the 70,000 level, and if broken, then look at 68,000. Defensive positions depend on your own holdings.