The recent trend of the pancake has shown a strong rebound, presenting a short squeeze situation, and has stabilized at the middle track of the daily line. In the short term, there is a high probability of rallying to 120800, which is expected to clear out short positions.

In the afternoon, it is recommended to go long lightly in the range of 117800-118300, with the opportunity to add positions on pullbacks, targeting 119600-120800.

Pay attention to the support at 117000; a break below this level is not weak, and it also presents an opportunity to add more. Ethereum seems to be in a tail-end market, so don't chase the rise; wait for signals. Wishing you a successful weekend! $BTC $ETH #ETH走势分析