After rising to 106,000 early in the morning, the pancake retraced to 103,000, capturing a space of over 2,000.

In the morning, it rebounded to 107,000, close to the target, and as we approach the panic day of May 19, there may be a sell-off, indicating that the short-term upward trend may be coming to an end.

Strategy:

Medium to long term: Hold short positions at 107,000, targeting a drop to 97,000;

Short term: Short in the range of 106,500-107,000, targeting 103,500-104,000, with Ethereum operating in sync.