The big pancake has gone through a pinning market in the past two days, and the overall intraday trend is leaning towards a slight rebound and consolidation, with not too much strength, and the weak pattern has not completely reversed. In contrast, Auntie's rebound during the same period surged over 200 points, so looking at it this way, the big pancake indeed seems a bit 'out of sync'.
From a weekly chart perspective, the big pancake has already broken its pattern. In the short term, if it wants to pull back into a bullish trend, the pressure is quite significant. Therefore, before the price effectively breaks through the key resistance of 113650, I still tend to be bearish during this rebound, with the overall approach still focused on 'shorting at highs'.
In terms of night operations, if the big pancake rebounds and touches the resistance level of 111000, it would be important to observe the breakthrough situation. If it can stabilize, the upward space may extend to the range of 112000-113000, where one could consider appropriately positioning short orders, with a stop loss set at 113650.
If the price does not push up and instead closes below the support of 110200 at the hourly level, then one could consider shorting with a light position, using the high point of the subsequent rebound as a stop loss reference. The initial downward target would be the range of 108500-107500, and if it continues to break down, the next step may be to look towards the vicinity of 105000.
#加密市场回调