$BTC

The large pancake's 1-hour chart shows that the Bollinger Bands are opening downwards as if being pulled, with the middle line and the upper line both trending downwards, indicating that the short-term is clearly dictated by bears. It's uncertain whether the position around 85500 can hold; we need to observe further.

During the decline, there are always large bearish candles coming down, and during rebounds, there are only small bullish candles and doji stars fluctuating back and forth, indicating that bulls want to resist but lack strength, and bears still have the upper hand. Moreover, the trading volume hasn’t shown significant increase, and the bulls' rebound effort is simply insufficient; it's very likely that the weakness will continue into the afternoon.

Therefore, it's recommended to wait for a rebound in the afternoon to short, rather than blindly trying to catch the bottom.

Operation suggestion: Short near 86500, target 84000–83500