To summarize: 75,000 is not the bottom, but rather the threshold for entering a deep bear market. Once effectively broken below, the market should no longer focus on "rebound correction," but switch to monthly-level defense, paying attention to the range of 65,000 → 58,000. The reason is simple: the adjustment level has changed. From February to April last year, it was a weekly adjustment, but this current cycle has upgraded to a monthly adjustment. The larger the adjustment level, the longer the time and the deeper the space, so 74,000–75,000 no longer meet the conditions for a trend bottom,
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