The large pancake daily chart surged and then fell back. In the early session, it touched the resistance zone at 104334 and then weakened. After two consecutive days of surging and falling, long upper shadows were left, indicating significant selling pressure above.
Last night, it peaked at 103725 and then started to lose momentum, currently seeking support around 102250. Although the daily chart still shows an upward trend and the moving averages are diverging upwards, the overall direction appears bullish, but caution is needed for short-term fluctuations.
The hourly chart shows this more clearly: after the surge and fall, prices are wavering around the moving averages, and short-term fluctuations may occur. However, the 4-hour chart is quietly gaining strength, with key support levels holding firm, and a moving average golden cross could happen at any moment. But be cautious, as this rapid rise means many people haven't joined in; the market maker might first create a dip before pushing higher.
For daytime trading advice: wait for a drop to the 101500-102000 range to gradually build positions for going long, with a stop loss set at 100800. The current market is like a compressed spring: the harder you press it down, the higher it will bounce back, but don’t let your position exceed 30%, keeping some funds to guard against sudden drops. In a bull market, sudden drops are normal; if you can hold steady and not get shaken out, you will win.
