【The current large pancake is like a time bomb, ready to explode and fall】
The current price of the large pancake is around 68600. Recently, it has attempted to break above the Fibonacci retracement level of 0.5 twice but failed to hold, ultimately falling back. Currently, on the hourly chart, we can see the formation of a 'bearish Gartley pattern,' which is a typical 'M top' harmonic structure, indicating a depletion of upward momentum and that selling pressure is starting to dominate. Whether the support level below can hold is somewhat uncertain.
As seen in Chart 2, the rebound intermediary structure in the upper yellow area indicates that the second wave trend experienced a fall after about 55 days. Now that the current intermediary structure has been in place for nearly 50 days, it seems that the time for a decline is approaching in the last week.
Regarding operation suggestions, we recommend holding onto the medium to long-term short position from 71500 that we established the day before yesterday. If there is a rebound to 71500-72000 (which is relatively unlikely), continue to add to the short position, as the downward trend is significant. 点击进入皇家研究院聊天室
