The price of large pancakes on December 8 showed a "roller coaster" trend, rebounding to $91,700 after hitting a low of $87,800 overnight, and after a morning pullback to $89,000, it again rose above $91,000, with a 24-hour increase of about 1.63%. Previously, after failing to break through $94,000, it had been consolidating in the $88,000 - $89,000 range with weakening momentum.

Technical analysis: A potential "rising wedge" is forming on the daily chart, indicating a decrease in momentum and an increase in volatility. The RSI indicator is in the neutral zone of 45 - 55, with buying and selling forces temporarily balanced; although the EMA trend indicator remains bearish, the daily K-line has broken above the EMA15 trend line at $90,800, entering a short bullish state, with the EMA30 resistance level at $93,600 and the Fibonacci resistance point at $94,200. The four-hour K-line has broken the EMA120 trend line at $91,500; the MACD volume contraction is about to end and start expanding, and after breaking $92,000, the DIF and DEA are expected to form a golden cross. The key resistance area is between $92,000 - $95,000, while the key support area is $87,000 - $88,000. If the support level is lost, it may drop to $85,000 or even $80,000.

In the short term, it is viewed as a volatile market, and chasing highs and lows is not recommended. For those holding single orders, the target should first look at whether $916,000 breaks effectively; if it breaks, watch for $92,000 - $93,000;

For short orders, it can be attempted in the $93,000 - $93,500 range, with a target of $92,000 - $92,500, and if it breaks, look towards $91,000 - $91,500.

At the same time, it is necessary to closely monitor the breakout situation at the $92,000 resistance level; a breakout with volume can allow for appropriate position increases, while if it encounters resistance in the resistance area and falls back, positions should be reduced in a timely manner to avoid the risk of a pullback.