March 4, 2026, Pancake Analysis

Yesterday, Pancake experienced a broad rally followed by a pullback, briefly approaching 69,000 during the day before facing resistance and retreating, closing around 68,700. The entire day was marked by significant volatility. Influenced by halving expectations and ETF capital flows, bulls attempted to push higher, but selling pressure above was considerable, resulting in a wide-range oscillation rather than a clear trending market.

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

Currently, Pancake is trading within the 65,000-69,000 range. Short-term support is around 65,000; a break below could lead to further declines toward 63,000. Strong resistance is at 68,500-69,000; 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, making range trading appropriate—avoid chasing highs or panic selling.

Trading strategy: in the 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 on rebounds near 69,000-69,500, targeting levels around 67,600, 66,600, and 65,600, with strict position and stop-loss controls.
These are personal suggestions for reference only and do not constitute investment advice. Please follow Cheng Jingsheng Shi Pan’s layout for specific guidance!!$BTC ‌#btc
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