Hold short positions patiently

8.17, Sunday, Analysis of the Big Pancake's Morning Strategy!

The big pancake has now reached the 117500 position, and the coin price has started to pull back. Are there still brothers who are not afraid of heights? Are there many brothers who have gone long and are stuck inside? The pressure is at 118000, and support is at 116000. We are still looking at a brief pullback, and we await developments in the evening!

From the one-hour technical structure chart, the price channel is oscillating and breaking down. The lower channel shows signs of opening up, but due to the slow pace, the pullback is accompanied by corrections. The conversion of long and short volume is frequent, and the oscillating downward shape is already obvious. For the upcoming short-term strategy, we will maintain a rebound to short.

On the four-hour level, the operating channel is forming a strong contraction, and there is narrow pressure on the upper track. The price is weakly declining within the range, with bullish volume release hindered, showing a weak state. The moving averages do not show a clear upward reversal, and the small cycle also shows further demand for decline. The short-term oscillation is obvious, with resistance at highs leading to a pullback. For the upcoming strategy, we will primarily participate in shorting at highs.

Personal operation advice for Bitcoin: Short in the 117500-117800 area, with a target of 116500-115000. #美联储取消创新活动监管计划 #美国7月PPI年率高于预期 #中国投资者涌向印尼 #币安钱包TGE #加密市场回调 $BTC