The large pancake started from the evening of the 23rd, with heavy buying at eleven o'clock pushing the price up to around 91200, where it faced resistance. The following four hourly candlesticks brought the price back to the starting point. For the next two days, it oscillated around the one-hour EMA 30. Since 91200 is where the one-hour EMA 120 and 144 are located, it has strong resistance, and the four-hour EMA 120 and 144 are very close to each other. Such key resistance levels have always been instructive for the market. After failing to hold above the one-hour EMA 30, it first crashed.

Starting at ten o'clock on the night of January 25, the large pancake experienced six consecutive hourly bearish candles, which also marked the last bearish candlestick of six consecutive four-hour candles. This crash led the large pancake to explore two thousand points, with the price reaching around 86000. The weekend's market actually holds little significance; it was purely liquidity suppression, and due to the inability to stabilize during the consolidation without an upward advantage, it merely tested a support level. Monday saw a day of repair, and there wasn't much to highlight. Starting from five o'clock today, there were six consecutive hourly bullish candles, but after facing resistance at the one-hour EMA 120 around 89000, it again produced eight consecutive bearish candles with the lowest price around 87800, which is below the one-hour EMA 30 but above the starting point of the bullish candles. This suggests that the market will first consolidate. Due to the weekend's crash testing once and Monday's testing once, further tests will prioritize upward testing.

Writing and sending bit by bit #btc