May 22

The pancake reached a new high near 110,000, and both the 4-hour and daily charts are showing strong resistance, forming a triple M top.

At this moment, there are two possible outcomes: 1. Directly break through 110,000, then pull back to 109,000 to continue to a new high.

2. Strong resistance at 110,000, triggering a bearish signal, pulling back to around 92,000.

The risk-to-reward ratio is very important in trading. Enter short near 110,000, and do not chase long positions.