$BTC
Good morning, brothers. Let's talk about Pancake:
Yesterday the market showed a relatively large decline, from around 62,000 in the early morning to around 58,000, a drop of more than 4,000 points in a short period of time. As I said in my post yesterday, around 57,000 is our first target, and the second target is around 55,000. Yesterday, there was no support at 61,000, and it fell directly.
Pancake's decline is faster than we expected, so 57,000 is no longer the first target. Its target will be deeper. The first target of $57,000 is close to it, and it is expected that the price may continue to fall. Overall, the market will continue to decline in the short term. Whether it is a simple oscillation mode or a more complex structure, it is unlikely to rise in the short term.
Therefore, short positions continue to be held. After the support around 61,000 is broken, the support turns into pressure. If there is a small rebound to around 60,500, continue to increase positions and short.
