4.22 Midday Big Cake Market Outlook

The Big Cake surged strongly, dipping to around 74,800 in the early morning, then spiking to 77,700. Currently, it is consolidating around 77,400. Although the bulls exploded to push higher in the short term, conditions are severely overbought at high levels, and the momentum from chasing the highs has weakened. Overhead selling pressure continues to build, so the room for upward rebound is limited. Overall, the main idea is to short at high levels, with pullbacks for going long as a secondary approach.

In terms of chart structure, after a series of explosive rallies, there are signs of stagnation at high levels, and early signals of a pullback under pressure have appeared. There are signs that the rally is losing steam, and the sustainability of the bulls remains in question. The risk of a bearish return and pullback is increasing.

Trading Suggestions

Short in the 77,800-78,300 rebound range at high levels. The first target is to look back at 77,000. If it breaks, follow the trend to see 76,600-76,100-75,500.
If price quickly dips and tags below 75,500, lightly go long for a short-term rebound#美伊二轮谈判进展 $BTC $ETH