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Trader Xiao Zheng 8.5 Tuesday midday analysis:
The Bitcoin continues to trend downward today. After breaking below the lower edge of the descending channel at midday, the current bottom support and the upper descending channel form an angle. The price movement shows a converging pattern, and the short-term bearish outlook remains unchanged.
Pancake operation suggestion:
When the price rebounds to the range of 114500 - 115000, and there is a clear signal of stagnation, you can try to short with a small position, setting the stop loss above 115800, and aiming for around 112000, with a break point at 11w.
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