The IP just surged to 4.18 and then quickly plummeted, leaving a frighteningly long upper shadow. Trading volume indeed increased significantly, but the price just couldn't hold. This situation clearly indicates that it's not the bulls making a serious push; rather, it looks like the main force is dumping at high levels.

**What does the candlestick pattern indicate?**

The sell pressure above 4.10 is ridiculously strong. The long upper shadow with volume on the 4-hour chart clearly shows that retail investors trapped above are eager to cut losses, and the bulls' attempt to break through is immediately blocked. Even more painfully, trading volume doubled, but the price retraced more than half of the gains, indicating that active buying has been completely suppressed by selling pressure, and upward momentum has been exhausted. Once the 4.00 level is broken, the price will likely test the support at 3.70 directly.

**The unlock schedule is set, what is the main force doing?**

A large unlock is scheduled for mid-January, which is known as a bearish factor in the market. This sudden surge is less about initiating a rally and more about creating liquidity before the unlock to allow large holders to offload at higher prices. As the unlock date approaches, panic selling could erupt at any time. Currently, any rebound is just an opportunity to escape.

**How to operate?**

Short positions can be entered gradually around 4.00, adding more if it rebounds to the 4.15 area. Place stop-loss at 4.30 (must effectively hold and break through today's high) to hedge against long positions. Once it falls below 3.90 with no rebound, it indicates a top has formed, and the target shifts directly to 3.50. Take profit at the first target of 3.65, with the core target at 3.00 (expected unlock wave level).

**Final words**

Long upper shadow + volume expansion and stagnation are classic sell signals. Don't be fooled by short-term rallies; in the face of large unlocks, all volume-less rises are just traps to lure buyers.