Hi dear

So, do you all think that the big pancake is heading to Beijing or Nanjing?

From the daily chart, #BTC has formed a clear downward channel (blue line) after a previous surge, with highs and lows continuing to decline, and overall still in a medium-term adjustment phase. Currently, the price has completed a phase of stop-loss around 80600 and is rebounding, but the rebound strength is relatively weak, and the volume has not effectively expanded, indicating that the funds are primarily speculative, and there has not yet been a consensus to go long.

Recently, the price is operating in the consolidation range after rebounding from the lower boundary of the downward channel and is constrained by the dual pressure of the upper (orange) trend line and the mid-channel line. The current area is more inclined towards a weak rebound triangular convergence structure. If the subsequent rebound cannot effectively stabilize above the resistance level around 88300~89000, then it is highly likely to again show a pattern of surging high then falling back, retracing to the previous low support area.

However, conversely, if the price can break through the orange trend line with significant volume and successfully stabilize above the mid-channel line, it is expected to open up further rebound space.
#BTC走势分析