5-26 Pancake Analysis: In recent days, the news has been continuous. Trump announced last week a 50% tariff on the EU, coinciding with the double top structure on the market K-line + the four-hour upward divergence, which will likely lead to a downward adjustment that could kill off the bulls.

An interesting point in the past two days is that the master James has continuously opened over a billion long positions, and after buying, the market experienced a pullback. During the pullback, James may have sensed something was off and promptly cut his losses, then reversed and opened a short position, increasing his position to a billion. However, his short position was scared off by the news from Trump around 6 AM about delaying the 50% tariffs on the EU. Regarding this news, one can only say that Trump is truly a master of market manipulation.

Returning to the market: From the one-hour structure, this pullback merely reached the position after breaking the historical high, then dropped down to stabilize without breaking the MA200 moving average. With continuous fluctuations and pin bars forming support in the short term, coupled with news, it rebounded. Looking at the Fibonacci 0.618, the current short-term resistance is at 109800. Once it stabilizes above 110000, it is still expected to continue breaking new highs.

Four-hour structure: The four-hour pancake has recently broken through a W-bottom structure, but it has not yet confirmed support with a pullback. Therefore, it is still unclear whether it is a real breakthrough or a false one. The one-hour volume-price relationship has also started to diverge. Thus, there is still hope for a pullback to provide entry opportunities. Therefore, we only need to focus on confirming the support at the W-bottom breakout position of 109000. However, with continuous pin bars forming, it is best to move down a few hundred points. Once the pullback does not break, then the opportunity to enter will arise #BTC .