7.20 Chen Jie Big Pancake Morning Analysis

Data shows that the current net inflow of funds for the Big Pancake is -8.8885 million, while the outflow amount has shrunk rapidly to an extremely low level, indicating that the bears’ dumping momentum has basically been exhausted. More importantly, the order book bid-ask spread ratio is as high as +95.76%, and the buy-side pending orders show an overwhelming advantage in absolute terms. This indicates that the leading funds have a very strong willingness to build a support defense line from below, and the long side’s bid absorption is very solid.

Currently, the Big Pancake price is trading around 64,597. From the 4-hour timeframe, after undergoing a strong deep dip washout earlier, the coin price has rebounded with a powerful V-reversal; the current candlestick has firmly held above the moving average system. Currently, MA7 (64,585) and MA30 (64,287) are in line with the trend and have officially formed a bullish golden cross, fully establishing the bullish structure on the technical side. Short-term consolidation below the 65,000 level belongs to healthy momentum accumulation and consolidation. In the morning, the trading plan is firm: go long on dips in line with the trend.

Trading Strategy
Go long around 64,000-64,600; watch 65,300-65,800-66,300; buy dips at 63,400#btc $BTC