From the 4-hour chart, the pancake shows a short-term oscillation after a correction, presenting three consecutive bearish candles under pressure, rebounding to around 103000 after hitting the lowest point. Although there is no significant bullish pattern, the overall trend appears to be a staged upward movement.

From the 1-hour chart, after a brief oscillation, an effective bottom support has formed in the lower range, similar to previous trends, and there is accumulation at the bottom before a rise.

In the later period, our bullish outlook remains unchanged, and the strategy is to continue to focus on low-level layouts.

At the 104800 level, with a stop at 104300, we aim for 107000-108000.