4.17 Pancake

After the U.S. stock market opened yesterday, the Pancake saw a sharp short-term drop of more than 1,700 points, dipping to around the 73200 level. Overall, this is consistent with the prediction we made yesterday! In the early morning, it consolidated, repaired, and rebounded. After rallying to 75500, it met resistance and fell back; currently, it is consolidating around the 74900 range.

Overall, the market is still at a relatively high level. Resistance above is dense and clear. On the 30-minute timeframe, it has surged upward multiple times but repeatedly met resistance and pulled back. Above 75000, a clear double-top strong-resistance structure has formed. The rebound lacks follow-through, and the short-term trend is bearish; trading still mainly focuses on shorting rebounds.

Suggestions

Short in batches on rebounds near 75500–76200,
Target: 74300; if it breaks through, look lower at 73500–73000,
If it continues to break down, it will further extend to 72300.#Gate13周年现场直击 $BTC ‌