Mengzhou Afternoon Market

Recently, this volatility has indeed been quite exhausting. When I see the numbers going down, it feels like something heavy is weighing me down, making me uneasy. But looking at it from a different perspective, who hasn't encountered such heavy moments? First, take a deep breath to steady yourself, and then think back to the logic of your initial judgment— as long as the foundation is still there, perhaps if we wait a little longer, we will see a turnaround.

From the 1-hour technical perspective, today's price action has been quite "turbulent": it first dipped to around 115865, then rebounded sharply, touching the upper Bollinger Band at around 118600 before dropping again. It's clear that there is significant selling pressure waiting above. Looking at the volume, the rebound was indeed accompanied by noticeable volume, but it couldn't sustain the momentum afterward and failed to hold the high levels, indicating that while the bulls made some noise this time, their follow-through still lacks a bit.
The pancake revolves around multiple targets 119000 near 117900-117600.
Ethereum is bullish around 3600-3570.