7.16 Pancake Daily Trend Analysis

Yesterday's Review:

- A short position entered at 123000 has been reduced at 116400 with a breakeven set; the subsequent profit withdrawal risk is manageable.

- Evening session suggested shorting around 118500, with a target reaching 115600, resulting in a profit of 2900 points within the range.

Technical Analysis:

- Daily K-line: Highest 119800, Lowest 115600; KDJ has turned down forming a death cross, and the RSI has fallen from the overbought zone, indicating bearish signals.

- 4-hour level: MACD bearish energy continues to expand, maintaining a weak short-term pattern.

Intraday Thinking:

After significant rises and falls, the market is inclined towards consolidation; it is recommended to focus primarily on short positions.

- Pay attention to the upper resistance level at 118500 and the support level at 115000.

Operation Suggestions:

Short in the 118200-118500 range, targeting lower at 117000-116000; if it breaks below 116000, further look towards 115000. $BTC