The large pancake, from the technical pattern of the daily chart, has been continuously closing in the red, with each K-line showing a significant upper shadow, indicating strong selling pressure above.

Near the key resistance level, there have been multiple instances of long upper shadow movements after sharp rises followed by pullbacks.

This reflects that while the bulls are making tentative upward attacks, the bears are firmly suppressing the price at relatively high levels, and the pressure for adjustment has not been fully released in the short term. It is advised to primarily short in operations.

Operation: Short near 118500-119000 for the large pancake, with targets looking towards 116000-115000. If the level breaks, continue to look down to #稳定币监管风暴 $BTC .