Missed today's market session, and there was a chance to re-enter the short position. Looking at this chart makes it clear—after the rebound touched the upward trendline, it was suppressed, and the trend continues downward.

The current technical situation is that the $2 level is very critical. From the current pattern, the downtrend may not be fully developed yet. There is obvious resistance above, and the rebound space is limited; each rally faces selling pressure.

At this pace, the outlook remains bearish. Unless the upward trendline is broken and stabilized, the medium-term trend remains downward. Those looking to bottom fish should wait for signals and avoid blindly entering.