Last night, the pancake seemed to surge and then retract, without any substantial breakthrough, and the market retreated around 109.

Currently, looking at the consolidation, the pullback strength of BTC is gradually weakening and the bottom is slowly rising. In the short term, it has not effectively broken through and stabilized at the key resistance level, indicating that the bulls still dominate the market, and we are currently in a critical area of competition between bulls and bears. In the short term, we should treat it according to the range.

Around 107800-108200, watching near 109200.