Based on the current trend, after an early morning rally, there was selling pressure, and the bulls and bears are clearly divided, with the price fluctuating back and forth in the 76,000–77,200 range. The KDJ indicator is in the middle zone, and the short-term direction remains unclear. The key support level is at 76,051; if it is effectively broken, further decline should be feared. The resistance above is at the 77,200 level; whether a volume breakout can be achieved is crucial for the bulls. Overall, the market is leaning towards consolidation, and it is recommended to hold a light position and wait for a clear direction.