$BTC Evening View:
Speaking with images: The large pancake has been consolidating back and forth and ultimately chose to break below the bearish flag pattern depicted in the image. The breakout of the bearish flag pattern failed, and it also pretended to break below 114000, resulting in a low point.
If the rebound can return to operate within the bearish flag pattern, it indicates that the recent false breakout of 114000 was indeed a false breakout. If it cannot return, then the recent false breakout will evolve into a true breakout. It will continue to test the position circled in the yellow box on the right to form a double bottom pattern before choosing a direction, after all, one-legged hopping does not go far. Everyone should be cautious of a second test of the position at 112145. If it tests 112145 again, you need to observe the price action of the large pancake. Only if the multiple pin bars close above 112145 can you go long on the left side. Otherwise, you can only watch and not act; acting poorly might directly trap you.
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The large pancake should break through 114647 with volume and chase long to profit from the rebound. If it breaks down with volume at 114467 and cannot recover, you should chase short on the right side, and set a stop loss.
The large pancake must stabilize above 115344 on an hourly basis to continue rising, looking up at 116083-117152.
If it cannot break through 115344, it cannot rise.
On a 4-hour basis, if it breaks below 114043, look down at 113071-112073. If it breaks below 114043 and cannot recover, it will continue to fall.
Continuing to look at the chart: The yellow arrow pointing at the upper 4-hour level indicates this bearish candle, which is a typical gravestone doji. The appearance of a gravestone doji signifies strong selling pressure at this position, and it cannot be passed in just one or two attempts. The position indicated by the yellow arrow below has a bearish engulfing pattern. The current bullish candle on the 4-hour level cannot engulf the bearish engulfing pattern; continuing to retrace is the only option for the large pancake. Meeting adjourned.