There is now almost 1500 points of space in the layout today, and those who entered over the weekend have basically all been resolved. In terms of direction, Zijun still continues to look down, with the morning target remaining at the position of 116500. Madam still does not take the conventional route; we do not aim for the best.

From a technical perspective, the four-hour level is currently just near the moving averages. The overall trend is downward, and the continuous bearish movement does not indicate a pullback. The MACD is about to form a death cross, so if you have positions to short, just hold on to them.

Recommendation for large pancake operation: around 118000
Target: 116500#BTC