The price of the #特朗普暂停新关税 pancake remains in a narrow fluctuation between 93K-95K, and the technical analysis shows a "high convergence triangle" pattern. The Bollinger Bands have narrowed to the 500U range, and the RSI indicator is stable at 55 in the neutral zone, indicating a temporary balance of bullish and bearish forces. However, one must be wary of the saying "after a long period of stagnation, there will be a spike." The current price has reached the third test of the 95K resistance band this year; if it cannot effectively break through, it may trigger a technical pullback. In terms of chip distribution: the short positions above 95K account for less than 12%, while there is a buildup of 4.8 billion in long positions in the 88K-90K range, which also faces a delivery pressure of 1.2 billion U in put options expiring. The market presents a pattern of "up pressure and down squeezing," and it is recommended to continue monitoring or lock positions in advance. If it breaks below 92K, one should guard against the risk of a long squeeze. The current volatility index has risen to a warning level of 45%, and it is essential to strictly control positions to respond to potential liquidation shocks.

PS: The previous expectation of a fluctuating upward trend has been adjusted to "after a long period of stagnation, there will be a spike."