Yesterday's southbound move of 115,000 had a maximum space of 5,000 points. Currently, there is a rebound, but overall it still maintains a downward outlook. After last week's black swan event, the market is clearly lacking in liquidity. The possibility of rebounding back up is not great, and it may further decline in the future. Therefore, I personally suggest that the focus should still be on the downside in the near term. If the position is not particularly good, it’s best to minimize layouts for the upside.

In terms of technical structure, although the US stock market fell in the evening, it has now returned to its original point. It was mentioned yesterday that 112,000 is a support level, and if it breaks, it will be 110,000. Currently, it has just retraced to this position, and there is no parking space left, so it might be worth considering.

Pancake operation suggestion: South down above 112300
Target: 110000#BTC