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There are basically two voices in the market now. The first is that staying at a high level without breaking through for a long time indicates that there is a lot of pressure, and the rebound is heading south. The other voice is that the upward trend line has not been broken materially, and overall it is still in an upward phase, which means it can continue to move north. However, in the last two or three days, it has mostly been fluctuating between 86 and 88, with not much continuation in either direction. Personally, I believe it can move south in the short term to see if it can break through the trend line.
From a technical analysis perspective, the resistance level above is at 885, and breaking this level can confirm the trend. However, it has not continued for two to three consecutive days, and the bullish momentum is gradually slowing down. Currently, the Bollinger Bands at the small scale are gradually narrowing, indicating a clear range of up and down contention. Without a parking space, the only option now is to head south. After all, there is no position for you to look up.
Pancake operation suggestion: Near 87500, go south.
Target: 85000 #BTC# #ETH#