Pancake Night Market Update (June 6, 2025)

1. Market Outlook

Key Resistance Level Breakthrough Observation: Focus on the breakthrough of 104,300 (2-hour level) and 105,000 (4-hour level). If 105,000 is effectively broken, it may open up upward space towards 107,000; conversely, if it faces pressure and falls back, caution should be exercised regarding the risk of a pullback.

Support Validity Verification: During a pullback, observe the strength of support at 102,400 and 101,500. If 102,400 is lost, it may further test the daily support at 100,800; once the daily support fails, caution should be taken against a deep pullback to the 90,000 range.

2. Technical Highlights

1. Multi-Level Resistance Convergence:

The 2-hour level 104,300 and the 4-hour level 105,000 form dual pressure. If the price repeatedly tests without breaking through, it may trigger a bearish counterattack.

Closely monitor volume changes: a breakthrough needs to be accompanied by increased volume; otherwise, it may be a false breakout that entices buyers.

2. Support Defense Strategy:

100,800 is a strong support at the daily level; if it breaks, it may trigger a larger pullback (such as a weekly correction).

3. Key Support and Resistance

Support Levels: 102400 → 101500 → 100800

Resistance Levels: 103800 → 104500 → 105000

4. Risk Warning

False Breakout Risk: If the price briefly breaks through resistance but quickly falls back, it may form a “bull trap,” which needs to be verified with trading volume.

Daily Breakout Chain Reaction: If the daily support at 100,800 fails, it may trigger programmed selling, accelerating the decline to below 100,000.