Monday evening, stick to one direction

After the intraday spike of the large pancake reaching the resistance line of 1223, the price of the coin has been declining all the way down, currently dropping to the lowest area of 1203. In the afternoon, as long as it holds above 120,000, the bullish outlook remains valid.

From a technical structure perspective, the pullback after a significant surge is a normal correction. Overall, the market is still predominantly bullish. In the 4-hour chart, the overall bullish trend is evident. Although there has been a continuous decline, it does not affect the overall operation structure. Tonight, pay close attention to the support situation at 120,000. If it cannot break below effectively, it remains bullish; if it breaks, be prepared to adjust accordingly in live trading.

Refer to buying around 120,000, aiming for the 122,000 area. If it breaks, continue to look for 123,000; if it does not break, consider reversing to short.