The pancake continued its downward trend in the morning. The current price is forming a sideways consolidation pattern under low trading volume and a wait-and-see state in the MACD, while the K-line pattern of three black crows combined with the oversold state of the KDJ indicator shows that there is significant short-term downward pressure, but a slight rebound cannot be ruled out.

In the short term, it may continue to consolidate at a low level, during which a slight rebound after finding support is possible, but the strong bearish signal of the three black crows indicates that the height of the rebound is limited, and the short-term trend is weak.

Aggressive traders can make short-term trades with light positions as long as the support at 107300 holds, targeting 108000.

Conservative traders should wait for a rebound to 108000—108400 to continue following the market, targeting 106400 and 105500.

Risk control: It is not recommended to make heavy trades before confirming a reversal signal with volume and indicators, and be aware that the continuation of the bearish trend may lead to further price declines.