12.8 Pancake Operation Strategy
This week's news revolves around the interest rate decision early Thursday morning and the press conference by Federal Reserve Chairman Powell. Currently, the information in the market is all about an impending interest rate cut, and looking at the charts, the high and low points are consistently too high. The closer we get to the lower end, the more long positions are opened, which will also be lifted away. In the short term, we can see fluctuations of around 3000 points, and there is no breakdown or recovery of the news front. This is one way to view the future market movement, forming an ascending triangle within a downward trend. Therefore, we can short at the resistance level above, and a position at 94300 can be shorted, aiming to get below 90,000 with a risk-reward ratio of 1:2, and even hoping for the ultimate target of 75900. The current market is interesting as it does not follow all trend lines; it can even break below a line and then immediately recover, while still following the trend of that line. This kind of reckless strategy has started in this year's market $BTC
