10.11 Pancake Thought Analysis:
From the current market structure, the four-hour level market has broken through with a "four consecutive downs" pattern, continuously breaking through several key support levels below, with prices directly dropping below the lower Bollinger Band. Although after a strong decline, the market has shown signs of slowing down, the overall trend is still firmly dominated by the bears, and the bearish momentum has not completely diminished.
Looking at the one-hour short cycle, the market has switched to a correction mode, with prices slightly warming up and entering a low volatility range, while trading volume gradually shrinks, clearly reflecting the cautious wait-and-see mentality of market traders. The tug-of-war style oscillation correction pattern within the short cycle is also ongoing.
Trading suggestion: around 113800-114300, looking down to around 112800-111800, if broken, continue looking down to $BTC