If the pancake keeps testing the bottom like this, it might just collapse directly.

No matter how strong the support level is, it can't withstand such repeated downward attacks. It's like a hard stone; after being hit three or four times, it will break.

There’s a troubling aspect to this pullback: there was no obvious pullback signal at the highest point, which is very dangerous!

If there were a clear stop-loss signal at the lowest point, everyone would feel more at ease.

Now we need to watch the range of 106500 to 107000. Once it breaks below, the bears will likely crash the market hard.

Another scenario is if it oscillates around 107000; we need to be cautious, as this could be a signal for a short squeeze.

If it can stabilize at this level for a while, we can still look at the range of 108000 to 108500.

If it can't even break above 107900, then don't think about moving higher.

From the four-hour perspective, if the critical point of 107000 can't hold, then don't force it; just watch it drop to the range of 106500 to 106000 directly.

Now, we are just waiting for the U.S. stock market to open. Then we will know if that previous rise was just a false signal or if it truly dropped.

19207934921978418088980173337054885115870832