Pancake Trading Recommendations
In the short term, it is recommended to be cautious when shorting (betting on a decline), but strict stop-loss measures must be set:
• Reasons for Shorting:
◦ Price is approaching strong resistance level ($97,865), MACD divergence (new price high but declining momentum).
◦ Shrinking trading volume indicates insufficient bullish strength; if it breaks below the short-term support level (MA7: $97,447), it may retest $96,122 (24-hour low).
• Stop-Loss Level: Set above $98,000 (if it breaks the resistance level, the trend reverses).
• Take-Profit Target: $96,500 (first support level) or lower at $95,000 (near MA99 moving average).
Risk Warning
1. Sudden positive news may reverse the trend: If BTC breaks above $98,000 with increased volume and stabilizes, it may trigger short-seller stop-losses and accelerate the rise.
2. Impact of the macro environment: It is essential to pay attention to Federal Reserve policies, regulatory dynamics in the crypto market, and other external factors, as these may change the technical logic in the short term.
