The recent surge of the big pancake feels like it has been injected with adrenaline, with an increase of nearly ten thousand points from last week to now. To be honest, it has somewhat deviated from the fundamental rhythm, and it feels like a forced elevation to shake out the shorts.

The current price has been oscillating around 110,000, completely not giving any room for a pullback, the K-line has shrunk into a bunch, and the Bollinger Bands seem to be narrowing as well. This kind of trend gives off a feeling of being a trap for the bulls.

Personally, I lean towards a bearish view on this trend; this wave of increase has been too rapid, and if there is no continued increase in volume afterwards, this position is likely to be a short-term top. It looks very stable now, but once it turns around for a pullback, I don't think it will be polite.