The large pancake is currently rising quite sharply, and the 4-hour chart shows that the bulls are completely in control. However, the 1-hour chart indicates that after a rapid rise, it has started to consolidate, which is a build-up in preparation for another upward push.
Looking at key positions, the previous resistance at 103000 has now turned into support, becoming the floor price. But a new ceiling has formed around 106000, and rising to this point might face downward pressure.
Operational suggestion: Consider shorting in the range of 105500-106500, targeting around 104000-103000.
Short around 2450-2420.
Target around 2385—2355.
