Regarding the large pancake still oscillating downwards within the channel, the daily line has recovered to 110,000. Attention to the breakthrough of the channel can increase long positions.

This is relatively friendly to the bulls, but it is still in a large-scale bearish trend and has not reversed.

Moreover, spot trading has been flowing out. Currently, one can try to go long at 1105, and take a protective stop-loss on any rebound. It’s a bit of a gamble on the intraday rebound.

Overall judgment is that there should be no direction before tomorrow's data, and it will likely oscillate between 112,000 and 110,000. Try to go long at lower levels.

If it breaks through 112,000 today, watch for the 1169 level. It may form a reversal, but I still judge that there will be a long period of range-bound oscillation, allowing funds and space for altcoins and Ethereum.

Short positions should still be arranged around 112,000, 114,500, and 116,900. Long positions should pay attention to a break below 1105, looking at 1086. Ultimately, the long-term bottom-fishing should be at 105,200, so be ready for an ambush at this level! It should be injected this week. Keep an eye on the overall pattern. There is considerable space above and below, so manage stop-losses well.