The pancake is currently in a range-bound state, and the technical indicators show a conflict between short-term rebound signals and a weak long-term trend. The morning star pattern and the short-term price rebound above the moving average create a bullish resonance, but the significantly reduced trading volume indicates a lack of sufficient momentum to support a sustained rise. In addition, the price is close to the resistance level of 88018, and if it cannot break through this area, it may lead to a price pullback to the secondary support of 84586 or even the strong support of 80600.5. BTC: near 87000-88000, with a support at 86500-85500 Two cakes: around 2860-2820, looking down at 2780-2740
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11.24 Afternoon Thoughts
The pancake is currently in a range-bound state, and the technical indicators show a conflict between short-term rebound signals and a weak long-term trend. The morning star pattern and the short-term price rebound above the moving average create a bullish resonance, but the significantly reduced trading volume indicates a lack of sufficient momentum to support a sustained rise. In addition, the price is close to the resistance level of 88018, and if it cannot break through this area, it may lead to a price pullback to the secondary support of 84586 or even the strong support of 80600.5.
BTC: near 87000-88000, with a support at 86500-85500
Two cakes: around 2860-2820, looking down at 2780-2740