$BTC

The pancake broke the life line on the 4-hour chart yesterday, and is currently in a horizontal adjustment phase. If it fails to increase in volume and effectively hold above the 121000 level, the market may continue to consolidate sideways, and the adjustment level will shift from small to large, upgrading to a daily level.

Based on wave theory analysis, I personally tend to believe that we are currently in the C-wave downward movement. This rebound from 111888 to the high point of 124500 belongs to a strong B-wave, characterized as a false breakout. Therefore, this pattern fits the characteristics of a "head and shoulders" platform-type adjustment (i.e., breaking through the previous high and then falling below the previous low).

Suggested operational strategy:

Long-term: Consider laying out short positions near the 122000 area.

Short-term oscillation range: Try to capture rebound opportunities within the 116500 - 115800 range.

Spot: The ideal bottom-fishing area is between 111118 and 109700.