Current price of pancake stop loss 116200 Target 120000-122000$BTC
Five-wave decline completed: conforms to the driving wave pattern in Elliott Wave Theory, indicating that short-term downward momentum has been released.
Second bottom test: The pullback after the fifth wave did not break the previous low, forming a double bottom or potential 'W-bottom' structure, which is a common reversal signal.
Second bottom test with reduced volume: A sign of selling exhaustion, especially when liquidity is low over the weekend, indicating insufficient bearish power.
Divergence signal: If the trading volume at the second low is significantly lower than at the first, it may form a bullish divergence between price and volume, enhancing the probability of reversal.
Low weekend liquidity may amplify the reduced volume signal
