From the 4-hour time frame, the pancake has formed an upward trend channel, and the price has been continuously rising, showing multiple bullish candles, successfully breaking through the previous high of $108,767. The opening of the Bollinger Bands is also expanding, and the price is currently operating above the upper Bollinger Band.
However, it is important to note that this rebound has not formed a standard three-sell structure; on the contrary, the price has returned to the previous range of fluctuations, showing a pattern similar to a two-sell. This suggests that in the short term, the price is likely to experience fluctuations up and down. Therefore, if you plan to trade short-term, you might consider looking for opportunities to short.
Morning trading idea: short directly between 110000-110500, with a target of 108000.
