March 4, 2026, Pancake Analysis

Yesterday, Pancake overall surged then retraced, briefly approaching around 69,000 during the day, then faced resistance and fell back, closing near 68,700. The entire day was marked by significant volatility. Influenced by the halving expectations and ETF capital flows, the bulls attempted to push higher, but selling pressure above was considerable. The market moved in a wide-range oscillation without forming a clear trend.

Today, the news environment remains generally stable, with tensions in the Middle East slightly easing, leading to decreased volatility in risk assets. US spot BTC ETF capital inflows and outflows are steady, and the April halving expectation continues to support long-term sentiment. On a macro level, Federal Reserve policy expectations are unclear, and funds remain cautious. BTC is unlikely to see sharp rises or falls, mainly oscillating, with no obvious bullish or bearish triggers in the news.

Currently, BTC is trading within the 65,000-69,000 range. Short-term support is around 65,000; a break below could lead to further decline toward 63,000. Resistance is strong between 68,500 and 69,000; only a breakout above this range could open the upside. The daily chart shows a consolidation phase, with neutral indicators and no clear trend signals. Range trading is suitable; avoid chasing highs or panic selling.

Trading strategy: Short-term, buy low and sell high within the 65,000-69,000 range. If broken, follow the trend. It is recommended to lightly buy back near 69,000-69,500, targeting around 67,600-66,600-65,600. Strictly control position sizes and stop-losses.

The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng's layout for specific strategies!!$BTC ‌#btc