Weekend discussion on thoughts
The big pancake dropped to around 116700 last night before starting to rebound, reaching a high of 118300. During the day, it oscillated between 118500 and 117900, and then at midnight, it fell back to around 117600, currently in a sideways consolidation state.
From the 4-hour chart, the downward momentum has weakened, and the price encountered resistance near the middle track. Focus on the key levels of 118500 and 119800 above. The 1-hour chart shows that the bulls are starting to exert strength, and the price has already touched the upper track.
Considering short positions if it rebounds to the 118500-118800 range, with a lower target of 117000-116300
