#BTC

August 18 Night Market Analysis of Pancake Futures:

The current market continues its downward pattern, with multiple bearish signals evident on the technical front. The 4-hour cycle has formed a sequence of four consecutive bearish candles, and all moving averages are showing a bearish divergence. Prices remain under pressure below the short-term moving averages, clearly indicating a bearish dominance.

However, it is important to note that the current trading volume has simultaneously shrunk to recent lows, indicating a weakening of selling pressure; at the same time, prices are approaching the lower Bollinger Band area, and the RSI indicator has entered the oversold zone, suggesting a need for short-term technical correction, which may lead to a slight rebound consolidation. However, it should be clear that such a rebound is more of a technical repair within a bearish trend, and if the rebound fails to break through key resistance levels (such as the 5-day moving average on the 4-hour chart), it is unlikely to change the overall downward rhythm, and the bearish trend is likely to continue.

In terms of operation, consider shorting around 115200, with lower targets sequentially looking at the support line of 114500, and further down to the range of 114200-113200 after a breakdown.