7.16 Big Pancake Intraday Analysis
On the 15-minute timeframe, after spiking to the 65600 high, bullish momentum continued to wane. The price has been consolidating and then pulling back from the high point. In the short term, moving averages have turned downward and continue to suppress the market. The corrective action following this spike is still ongoing. The rebound strength keeps weakening; every time the price bounces, it struggles to form a sustained upward push. Candlesticks repeatedly show patterns of spiking and then reversing back down. During the rebound phase, trading volume continues to shrink, and there is insufficient incremental buying. Previously, at the high levels, profit-taking by long positions keeps leaving the market, and short-term sell pressure accumulates in the resistance zone above. If subsequent rebounds cannot increase volume and hold firm above the 65000 resistance level, the sideways-to-downward movement rhythm will continue. In terms of strategy, prioritize setting up short positions in line with the trend, relying on the resistance areas. Pay close attention to the key support at 63200; once there is an effective breakdown of that level, the downside correction space will further expand.
Analysis: Short near 64700-65000. First target: 63600. Second target: 63200. Stop-loss/defense: 65350
#以太坊涨5.2%突破下降趋势线
On the 15-minute timeframe, after spiking to the 65600 high, bullish momentum continued to wane. The price has been consolidating and then pulling back from the high point. In the short term, moving averages have turned downward and continue to suppress the market. The corrective action following this spike is still ongoing. The rebound strength keeps weakening; every time the price bounces, it struggles to form a sustained upward push. Candlesticks repeatedly show patterns of spiking and then reversing back down. During the rebound phase, trading volume continues to shrink, and there is insufficient incremental buying. Previously, at the high levels, profit-taking by long positions keeps leaving the market, and short-term sell pressure accumulates in the resistance zone above. If subsequent rebounds cannot increase volume and hold firm above the 65000 resistance level, the sideways-to-downward movement rhythm will continue. In terms of strategy, prioritize setting up short positions in line with the trend, relying on the resistance areas. Pay close attention to the key support at 63200; once there is an effective breakdown of that level, the downside correction space will further expand.
Analysis: Short near 64700-65000. First target: 63600. Second target: 63200. Stop-loss/defense: 65350
#以太坊涨5.2%突破下降趋势线
