Bitcoin Evening Technical Analysis:

The second pancake just experienced a false breakout with a spike that briefly broke the triangle pattern. The key point here is—if it cannot regain movement inside the triangle, and the spike again breaks below the previous low, then be prepared for a correction. Conversely, if it stabilizes inside the triangle, then the 3303-3346 range will become the main consolidation zone.

Once 3303 is broken, a retest around 3253 is inevitable. This is not a small matter because if 3303 is lost, the previous rally and consolidation phase will be completely invalidated. Even more severe, if it falls below the white large bullish candle at 3253, it will be engulfed by more than half, which is a very strong signal.

If the retest at 3253 fails to produce an effective rebound and cannot re-establish above 3300, then the expected move is a further decline towards 3183. Currently, the biggest resistance on the hourly chart is at 3346; only a breakout above it can allow for further upward movement. Don’t be fooled by the recent rally of the second pancake—this thing tends to fall faster than it rises.

If another rebound still cannot break the previous high and forms a pin bar, creating a double pin top pattern, then the wave of correction you’re expecting may arrive. But honestly, many people get scared and hesitate to buy when a correction happens, making the correction meaningless for them.

**Trading Strategy Reference:**
A volume breakout above 3344 on the right side can be considered a long entry; a volume breakdown below 3302 on the right side can be considered a short entry. Be sure to observe volume changes and set proper stop-losses.

**Target Levels on Different Timeframes:**
Hourly: If it stabilizes above 3344, look for 3380-3420.
4-hour: If it breaks below 3311, look for 3263-3230.
Daily: The triangle pattern has already broken out; the key is whether it can hold above the upper boundary. If it continues to operate above the triangle, it will move higher; if it falls back inside, it will consolidate within. As long as it doesn’t break below the lower boundary of the triangle, there’s no big problem.

From a daily perspective, the arc bottom of the white line has been completed. The current focus is whether the arc bottom of the yellow line can form. If it does, the second pancake may rally again towards 3654.