The pancake's morning daily closing remains below 119. The 4-hour level shows two candlesticks also below 119. Not to say it's a hundred percent going down, but at least there won't be a significant rebound in the short term. After all, yesterday's drop has erased the gains, which is not favorable for a short-term rise.

After peaking at 1224, it continuously broke below 1203 and 1190, these two key levels, and couldn't recover. It's highly likely to go down now. Early in the morning, it tested the support at 118, and today it’s highly likely to test the range of 1170-1174. If it can’t hold this level, it will have to test the previous large framework bottom edge at 1150.

If there aren't any good positions to short today (I'm personally quite aggressive with my entries), then I won't mention it. You can wait around 115 for a chance to enter.