Yesterday’s “second pancake” short-side idea shared with everyone truly delivered 100 points of “space.” Just like with the “big pancake,” students who followed the layout could directly and clearly see account profits—this once again confirms the importance of anticipating the trend in advance and trading in line with it.

In the evening, the situation in the Middle East once again escalated, becoming a core bearish catalyst. Regional conflicts pushed international oil prices higher, intensifying global inflation concerns and directly delaying expectations of a Fed rate cut. The tighter liquidity environment is extremely suppressive for the “second pancake.”

In addition, recent on-chain activity for Ethereum has continued to decline, ETF funds have continued to record net outflows, and there’s a lack of incremental on-exchange funds to provide support. Every rebound on the chart is accompanied by large sell pressure, and in the short term there is not much basis for a reversal and upside move.

Trading suggestion: Aggressive traders can short directly at the current price. Conservative traders can short around 1740-1770, targeting 1700-1670. If it breaks below 1650 and 1600—defense at 1800 is steadier, with 1820 as the more conservative level.
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