8.12 Qin Feng's Thoughts on Large Pancakes in the Early Morning

The hourly K-line has clearly been under pressure after the long upper shadow pierced 112400, with the MACD deepening the dead cross below the zero axis, and the red bars shortening for three consecutive periods, indicating an increase in bearish momentum; the RSI has simultaneously dropped below 40, entering the weak zone, showing a lack of rebound strength.

One can look to short the large pancake around 120500-120000, with a target near 118000 #btc