February 13, 2026, Pancake Analysis Yesterday, Pancake initially surged to around 68,385, then plummeted all the way down, hitting a low of 65,081. The entire day showed a pattern of "initial rally followed by a sharp decline + breaking support and crashing." The bulls had no strength to resist, and the daily chart closed with a large bearish candle, indicating a clear short-term downtrend. News: Recently, the Federal Reserve's hawkish expectations have intensified, with the market betting on delayed rate cuts. The US dollar and Treasury yields have strengthened, directly suppressing the crypto market. Coupled with Pancake's previous rapid rise, profit-taking at high levels has been concentrated, and some institutions have taken the opportunity to dump, causing the market to fall quickly. Currently, there are no major positive catalysts; overall news sentiment is bearish, making a significant rebound unlikely in the short term. Technical: Pancake has broken below all short-term moving averages, with all three lines turning downward, confirming a clear bearish trend. After an oversold correction on the hourly chart, there was a slight rebound, but the strength was weak, indicating a "too much decline, taking a breather," unlikely to change the downward pattern. Key levels are clear: resistance at 66,500-67,000 above, encountering strong resistance at this rebound; support at 65,000-65,200 below, an important short-term defense zone. If broken, watch 64,000. Trading suggestions: In the short term, avoid chasing shorts or bottom-fishing. Wait for a rebound to re-enter. Light short positions around 66,500-67,000 with a stop loss at 67,300, targeting 65,500-65,200; or light long positions if it falls back to 65,000-65,200 with a stop loss at 64,700, targeting 65,800-66,000. Keep positions light, strictly set stop losses, take profits quickly when volatility is high, and avoid greed. 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