Last night, the pancake market suffered a sharp decline of 6.5%, pulling back more than 6460 points.

Behind this wave of decline is the dual blow of chip pressure and large holders offloading.

The pancake failed to break through the chip pressure level of 98,580, while large holders on Binance sold 11.03 million dollars at the price level of 98,500, forming a peak signal.

Subsequently, it failed to hold at the chip peak of 96,010 during the pullback, accelerating the drop below 93,000.

Currently, it is testing the chip support level of 94,340; if it holds, there may be a chance to probe 96,010. If it breaks below, the support level below is $92,000.

Chip peaks play an important role in trading and are key to judging price trends.

Mastering the direction of the main force, penetrating the information fog, and understanding the language of capital are key to dancing with the庄 and winning trading wealth.