Second Pancake Short-term Morning Analysis

Entry: Rebound around 1745 to do a quick trade
Target Range: Target (1) 1728—1720 (first reduce and take profits)
Target (2) 1705—1700 (break below previous low, remaining position for potential)
Stop-loss defense level: 1770
II. Market Logic Interpretation
Market Structure: The market surged to a peak of 1779.00, then turned down, with momentum exhausted; short-term trend shifts from strong to weak; during the rebound, price tested the middle Bollinger Band, with continuous selling pressure above, and no ability to re-enter the previous trading range.
Support and Power: The previous low at 1700.37 shows slight support, but only slows down the decline; it cannot reverse the short-term downward pattern; technical indicators' signals are gradually amplifying, with the short-term trend dominating the market.
Trading Strategy: Intra-day, prioritize rebounds from the upper support level to do quick trades, and watch for potential pullbacks in the trading range.
III. Market Risk Reminder
This decline is only a temporary correction after an upward move; the medium to long-term larger cycle remains biased upward; short-term, quick trades must strictly set stop-loss levels to avoid losses from a sudden breakout and trap. #ETH