February 9, 2026, Pancake Analysis

Today, Pancake's midday trend is just oscillating around 70,000, with neither bulls nor bears gaining a clear advantage. The price is fluctuating around 70,360, typical of a consolidation phase.

There are no major negative news, and in fact, there are several positive signals: the Fed's rate cut expectations are still in place, and a weakening dollar is good for crypto assets; Bitcoin ETF fund inflows remain steady, institutions are gradually increasing their positions, and with the halving approaching, there is long-term optimism.

On the technical side, the previous high of 72,300 is a key resistance level. Breaking through it could open up new space; the 70,000 level is the bottom line—only a breakdown below that would trigger a major correction. Currently, moving averages are still upward, and any pullback is just a buildup, not a reversal.

The next trading advice is simple: don't chase highs. A dip back to around 70,000 can be a good opportunity for light long positions with proper stop-losses; if it breaks through 72,300, add to your positions accordingly. There is no clear trend right now, so it's more reliable to trade cautiously. Wait until the direction is clearer before making bigger moves.

Suggested support levels are around 69,800 to 69,000. Lightly add to positions there, with a stop-loss at 68,500, targeting around 71,000 to 71,800.

This is just personal advice for reference; it does not constitute investment advice. Please follow Cheng Jingsheng's and Shi Pan's strategic layout for actual trading!!$XAU ‌#XAU