Looking back at the early morning pancake market, it is in a state of range fluctuation, with the 104000 level continuously solidifying the foundation and stabilizing support points. Therefore, the market has fallen into a brief period of calm, without significant fluctuations. The focus in the morning will be on this level, as it will be an important support level for the next major fluctuation.
From a technical analysis perspective, in the 4-hour K-line cycle, the three lines of the Bollinger Bands are gradually forming a parallel convergence pattern, which aligns with the technical characteristics of range fluctuation markets. This stems from the market experiencing a deep correction, with both long and short momentum diminishing, creating a balance of short-term forces, and is currently in a consolidation phase, waiting for new driving factors to break the deadlock. In the 1-hour micro cycle, prices continue to be pressured at the lower Bollinger Band, and the three lines of the Bollinger Bands in this cycle show a downward diverging bottoming trend, indicating that bearish forces are dominating the market during the day, with a high likelihood of continuing the downward trend in the short term. Based on this, it is recommended to adopt a range trading strategy in the morning, prioritizing short positions at high points, and strictly setting stop losses based on the middle line of the Bollinger Bands or key K-line high points to manage risk.
Short near pancake 105000 Target 102500
Short near Ethereum 2540 Target 2400
