The large pancake has been fluctuating between 105700-105300 after the rise on Saturday. The next step is whether it can stabilize above 107000 and continue to push towards 110000, or break below the 105000-104500 long position defense area and continue to impact the 100000 area. Now let's see where to go long and where to go short.

If the large pancake breaks down the 105000-104500 long position defense area today and a bearish candle closes below 1044 on the four-hour level or above, pay attention to whether there will be a strong rebound. If it continues to move down, then the short positions can hold with the initial target looking at around 103300, and the next target would be around 101000.

Therefore, it is suggested that those who want to go long hold a little longer and can place orders in the 101500-101000 area with a stop loss at 99000. A stop loss of two thousand five hundred points to aim for an upward space is still feasible.

Now let's talk about Ethereum. Currently, the ETH position is below 2500, around 2480. This area has some support. Observe the trend of the large pancake. Will ETH break below the 2460 area to around 2430 when the large pancake is at 105-1045? If it stops falling, long positions can also be taken with a short-term target looking towards 2500, and a longer target at 2700, which still offers a profit of nearly two to three hundred points.

Review:

The short positions made last week currently have an average price of 105100. By increasing positions at the upper pressure level and reducing positions near the average price, it has pulled back up. There has still been no significant change, and the current position remains at 4% short, still relatively bearish. However, it still needs to be based on real-time market conditions. If the large pancake consolidates near 105000 without breaking down, consider reducing the position or closing it directly. If it breaks below this position, it can still be held.