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Wednesday morning analysis
The cryptocurrency market rose slightly in the early hours of today, and the big cake touched 106,239 in the intraday, and then technically retraced, failing to hold above the 106,000 mark.
The four-hour K-line now has a long upper shadow, and the bullish momentum is weakening. Although the technical indicators are bullish, the MACD shows a bearish divergence, the RSI is approaching the overbought zone without volume support, and short-term upside is limited.
Operation suggestion:
Short near 106500 for Pancake, target 105000
Short 2465, target 2415
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