July 23 Morning: Big Pancake Analysis

Judging from the 15-minute chart, Big Pancake has made two waves of pushing up in the short term. After tagging the high around 66,363, it faced pressure and pulled back. It has now dropped to 65,835. In the near term, the “puffing up” is failing to take off, and the selling pressure is starting to release.

This morning, price action first moved sideways and upward. After multiple attempts to probe the higher levels, it failed to hold. With insufficient follow-through from the buy side, the price quickly retraced. The difference between today’s intraday high and low is clear, and the short-term market has a strong ranging (choppy) character.

At present, net capital inflow is still positive, but price remains weak, indicating there are more sell-off lots above. In the short term, it will most likely continue to consolidate and range. For now, it may be difficult to quickly return to the previous highs. If you’re holding positions, keep an eye on support around 65,500, and be careful to prevent a breakdown of that support that could trigger further downside.

Personal suggestion: Look around 66,000–66,500; target 64,200–64,600#特斯拉持有11509枚BTC近四年未动