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Saturday Pancake Midday Analysis
Yesterday, Pancake surged all the way to the 78 level position. At the moment, judging by the chart, bullish sentiment is also relatively strong, and the funding rate is quite high. A sharp drop is unlikely to appear right away. There are too many short positions that have been trapped, so it’s not expected that they will be so easily allowed to get their positions out. Once the trapped funds are cleared out for the most part, and everyone goes chasing longs at high levels, that is when the decline could begin. We’ll observe as we go—first, we’ll keep a grasp on the current market situation!
Suggestion: For Pancake, pull back to around 76800-76400, take in in batches, and look at 775-78000.
Secondary Pancake 2410-2390 long, look for 2440-2450#山寨币强势反弹 $BTC $ETH