The large pancake is operating near the upper band of the Bollinger Bands, entering a range of oscillation since the high point of 123300. The K-line frequently shows upper and lower shadows, with alternating bullish and bearish candles, indicating fierce competition between bulls and bears. However, market momentum is sufficient, and the short-term operational space is clear. The Bollinger Bands on the four-hour level are gradually closing, with short-term fluctuations narrowing. The evening pullback did not break the key support and quickly rebounded, suppressing the bears while accumulating bullish momentum, increasing the probability of breaking out of the oscillation range. The long lower shadow on the hourly K-line shows strong support around 116370, with strong buying interest; the price stabilizes above 117000 and oscillates, forming bottom support, laying the foundation for the bulls to exert strength.
