The price of the pancake briefly fell below the previous parallel low point and then recovered, with huge trading volume in the bearish phase; Although the rebound closed at a positive line, the overall trading volume was weak. The trend is in a volatile range during the downward trend, and there is a bidirectional structure of attracting long and short positions in the market: the lower parallel low point is used to clear the long stop loss, and the upper parallel high point is likely to break through and fall back again to clear the short stop loss. Multiple support tests were conducted at the hourly level, with a slight rise at the low point but weak upward momentum. During the downward phase, the trend was sharp and decisive, while the rebound was sluggish and lacked the strong characteristics of a rapid increase in volume. This retracement of the price drop cannot be directly judged as a valid false reversal of the price drop. If the standard hits the bottom and falls below, it will quickly increase in volume and rise. Currently, it is only a slow sideways trend, leaning more towards the trap of attracting long positions, and there is a risk of a second downward support. Repeatedly testing the support level multiple times is not a stabilizing signal, and repeatedly sweeping stop losses actually indicates insufficient bullish power; If it is only a single puncture to quickly retract the low point, the reliability of the reversal is higher, and the credibility of multiple sawing decreases significantly. There is currently no clear signal of large capital entering the market to go long, with a slight mismatch between the volume and price of the bullish candlestick, and the bottom structure has not been confirmed. Two confirmation conditions for the future market (only when one is met is it suitable to go long) Stepping out of the high volume bullish line at a small level, increasing the volume and confirming effective support; After puncturing the low point again, quickly retract and complete the second washing, making the structure more stable. At present, there is no rush to buy at the bottom, wait and see for clear signals of stabilization