Last night, there were some bearish news regarding the pancake, which put some pressure on the short-term trend, but the overall direction remains relatively stable.
The price has tested around 116000 several times without breaking below, indicating that the support in this area is quite strong, and the short-term bottom is basically confirmed. The overall structure still maintains an upward channel. Now, it is in a high-level sideways phase, which can be considered a natural adjustment of market sentiment, so there is no need to worry too much.
Currently, the 4-hour chart is approaching the middle track, with trading volume maintaining a moderate release, and the overall trend is still under control, with the bullish pattern temporarily unchanged.
Trading suggestion: Go long between 117500-118000, targeting 119500.
