When the price of the big pancake rose to 122,400 yesterday, there were a lot of sellers, which caused the price to drop significantly. The support level of 117,700 on the daily chart is crucial and serves as a dividing line between bulls and bears. If the price retraces to this level and does not break below it, there is still a possibility of a rebound in the short term.

Although the four-hour trend has weakened, the buying power on the daily chart continues to increase. The CPI and interest rate data will be released tonight, and it is expected that the price will surge again at that time.

BTC:

You can go long around 118,000-118,500, with a target looking towards 119,300-120,000.