Pancake Midday Analysis

Yesterday, the pancake surged to a high, directly dropping to 121,000, and then fell back 4,500 points at midnight. This strong sell-off indeed scared off a large number of latecomers.

Currently, it is a "big bearish candle fragmenting into smaller bullish candles" structure, a typical consolidation after a decline. The Bollinger Bands are narrowing, the middle band is under pressure, and the overall situation is still in a correction state. However, there is clear support around 116,800, which has not been broken after several attempts, indicating that the selling momentum is waning.

This looks more like a wave of false breakdown washing out positions, rather than a trend reversal.

Focus on buying around 117,500 and 116,800; there is still a possibility of testing the 120,000 level today, and if it breaks, we will look towards above 122,000. $BTC #山寨币突破 #ETH突破3600 #GENIUS稳定币法案 #上市公司加密储备战略

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