In the past few days, the pancake has been testing the resistance area of 105,000. This is very similar to the previous trend, where it also continuously tested this area for nearly two months. Although it broke through and spiked to 110,000, it did not stabilize and subsequently moved downward. Since the beginning of the year, it has been bearish until April when a reversal occurred.

Currently, it is again continuously testing this position. Therefore, it seems quite difficult to effectively break through in the short term. The strong resistance area has been tested multiple times without breaking, so it is still not recommended to chase highs at this moment. Even if this round breaks the high and reaches new highs, where will it go? 120,000?

Actually, everyone knows deep down how high it can go this year! It certainly can't reach 200,000! Moreover, it is currently in a strong resistance area, and once it falls back, it will be like standing guard at the mountain top. I believe those who were at the top understand just how helpless they felt at that time. My current central thought is not to chase highs, even if the next round of gains reaches 106,000, I still do not recommend chasing.