The morning pancake index has currently reached a maximum of 1200 points. U.S. stocks opened lower and continue to look bearish. Cautious investors may reduce positions to lock in profits and move stop-losses down before looking for the next target. $BTC

After two days of adjustment over the weekend, the price of Bitcoin has been declining steadily. From the four-hour chart, it has broken through the lower Bollinger Band, accompanied by a sudden increase in trading volume. This is often a signal of concentrated bearish pressure. At this point, it is important to pay attention to whether the lower band continues to tilt downwards and whether the MACD histogram is becoming increasingly negative. If both resonate, the trend may have entered the 'main downward wave' phase.

Bitcoin target 945-950, defend 961, target 930/920. $BTC