March 15th Pancake Morning Thoughts
On Saturday morning, the pancake showed an upward trend, overall performing as a rebound pattern. However, the market did not demonstrate strong upward momentum and ultimately failed to close above 85,000. This area shows significant pressure, indicating that there is still a possibility of further retracement.
1. Short-term high points and resistance area: The round number of 85,000 was not effectively broken, showing strong resistance in this area. In the 4-hour chart, after testing the resistance above, a retracement occurred, while a rebound appeared in the support area below, forming a typical technical pattern of "no break, no stand."
2. Current sentiment is cautious, especially during the weekend period, making it less likely to break through key resistance levels in a single attempt. Therefore, it is more probable to maintain a fluctuating consolidation pattern.
Operational advice:
84,800-85,300, consider establishing a long position.
Long position target can be set at 83,000-82,000.
It is recommended to set a stop loss above 85,500.
