The big pancake hit a new high in the early morning, and it is also one of my failures. I held a long position for so long, and just as I switched direction, I got a lesson from the market makers. However, I successfully managed to exit afterward!!

Since the news was released, the big pancake has been rising steadily; in fact, there hasn't been much positive support for it to surge to new highs.

This wave is clearly the market makers' malicious manipulation, a tactic to liquidate high-position shorts, and the behavior is quite unappealing.

Currently, there is strong resistance above, and in the short term, overbought signals are starting to appear. I will continue to adopt a high short strategy.

Pay attention to the resistance around 112000 and prepare to short, targeting 108500-105000-102000 first. $BTC