Pancake and Second Pancake Morning Analysis

Operation Suggestion #BTC #ETH

Pancake: Around 87000-87700, target near 86000

Second Pancake: Around 2850-2900, target near 2750

The price comparison has gone through two days of consolidation over the weekend, and the current market shows a slight recovery. However, the rebound is not a reversal; this rebound is just a normal adjustment after a significant drop. The Pancake reached a high of around 88049 this morning and then fell under pressure. It quickly dropped to around 85915 and rebounded again, currently near the 88050 line.

From the 4-hour chart, the Bollinger Bands are closing downward. In the short term, the Pancake is making small upward movements. Although the price has warmed up since the support, it still cannot change the overall downward trend. The approach is to follow the trend and aim high.