6.6 Pancake Midday Market Analysis
Pancake🫓
📉 Current Trend:
- Bitcoin's recent decline has been strong, the rebound last night was weak, and short positions should be cautious, suggesting to wait in the 102,000-101,000 range.
- The current rebound is weak, and market sentiment is bearish, key attention is on whether the news at 20:30 tonight will bring short-term volatility.
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- Resistance above: 103,000 (key level for short-term rebound), if broken, look for 105,000.
- Support below: 95,500-96,000 (if it retraces to this area, it can be seen as a temporary bottom).
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1. Short Position Opportunities:
- If the rebound is pressured near 103,000, a light position can be taken to short, with a stop loss above 104,000, targeting 101,000-100,000.
- If the rebound near 105,000 still cannot stabilize, the trend remains bearish.
⚠ Risks:
- If 103,000 cannot be broken through, the market will still trend downward, avoid blindly catching the falling knife.
- Pay attention to tonight's news, beware of black swan events causing severe volatility.
- Overall Strategy: Focus on short positions, only consider long positions at key support levels, strictly maintain stop losses to prevent extreme market conditions!
