The large pancake is experiencing an increasing range of fluctuations at high levels. Yesterday, it dropped sharply by 8000 points to a level of 83786 points before quickly rebounding. Currently, the market is still dominated by bears.

From a technical perspective, the four-hour chart shows that after a decline, the market has rebounded and entered a short-term correction cycle. Although the bulls have recovered some lost ground, the Bollinger Bands continue to open downwards, indicating a significant bearish main trend. On the hourly chart, the market rebounded but faced resistance below the upper Bollinger Band. While the moving averages show an upward divergence, the indicators have already shown a retracement signal. The larger bearish trend remains unchanged, and the probability of a second test of the support below after the rebound is relatively high.

On the operational level, the core focus in the morning is on the strength of the rebound. Wait for the bullish momentum to weaken or for a clear sign of pressure to appear before strategically placing short positions.

Pancake: Short near 87000-87800 with a target of 85000-83800#BTC