The pancake continues to oscillate within a range, accompanied by gradually lower highs, indicating overall relative weakness. However, in the short term, multiple indicators show local overselling, suggesting a certain demand for a technical rebound.
At the same time, candlestick patterns such as a flat bottom and hammer line also suggest that the market may be attempting to stabilize near the current support. However, indicators such as MACD and RSI show that bearish forces are still clearly dominant, so the strength of the rebound is limited, and the path may involve repeated fluctuations before an upward correction.
Therefore, on Friday, focus first on the lower integer support at 117000 and the upper resistance at 118500. If it fails to effectively break through the previous high, sell on the high and buy on the low; follow the trend after the breakout!$BTC
At the same time, candlestick patterns such as a flat bottom and hammer line also suggest that the market may be attempting to stabilize near the current support. However, indicators such as MACD and RSI show that bearish forces are still clearly dominant, so the strength of the rebound is limited, and the path may involve repeated fluctuations before an upward correction.
Therefore, on Friday, focus first on the lower integer support at 117000 and the upper resistance at 118500. If it fails to effectively break through the previous high, sell on the high and buy on the low; follow the trend after the breakout!$BTC
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