The large pancake is currently in a bearish dominant situation on the 4-hour cycle. The middle band of the Bollinger Bands continues to decline, becoming an important anchor point for the medium-term trend; the upper band is widening upwards, while the lower band is accelerating downwards, and the overall opening is showing a downward divergence, indicating that the bearish momentum is still being released.

The price has been operating in the middle to lower band range for a long time, and each time it rebounds near the middle band, it encounters strong resistance and falls back. After the short-term moving averages and medium to long-term moving averages form a death cross, they move down simultaneously, creating a multi-layered suppression effect.

Operation suggestion: Look bearish near 113500-114500 for the large pancake, targeting 112000-110000$BTC #加密市场回调 $ETH #Strategy增持比特币 $SOL #山寨季何时到来？ .