$BTC Big pancake focuses on the 4-hour chart closing. If it effectively breaks below 101100, it will first target a high hanging restoration level of 99880. If it holds here, it will then move into a 4-hour range, with resistance levels around 101800 and 102500.

If the neckline at 99500 is effectively broken, the high three M-head formation at the 4-hour level will be established, which means the daily line will form a high three. The first target, with a high probability, will be around 96600, which is the C point of the daily line. If it doesn't break down, the short position still can't be too structured; it's not the time for a long short yet.