The 4-hour chart of the pancake hides mysteries! The rebound momentum hits the middle band of the Bollinger Bands 'hard edge', a long bearish candle directly tears apart the bearish offensive, and the bullish momentum is visibly weak.

The key to the short-term trend lies in two points: can it stabilize at the middle band? Can the support at 117000 hold? If the former is lost and the latter breaks, the downward space may open up instantly.

The most practical approach right now: follow the bearish rhythm, any rebound is an opportunity to position, chasing the long? Better to hold back first! Keep a close eye on these two points, the market direction may be seen at a glance~

Operational advice:

BTC can be shorted around 118800—119300, with a short-term target first looking at 117000, if it breaks down, look at the target of 116500, if it doesn't break, hold a light long position.

ETH can be shorted in the range of 3880—3910, with a target of 3750.