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5.2 Afternoon Thought Sharing
$BTC Looking at the four-hour chart, this pullback for Big Cake has not disrupted the overall upward rhythm. It is a typical “strong sideways consolidation” that digests gains.
From the price action, after breaking above the previous high, there was no deep drop. Instead, price has been trading in a tight range around the high levels, and the pullback lows have been steadily rising. This indicates very strong bullish follow-through and no signs of funds fleeing. In terms of volume and price, the rally’s volume expansion and the pullback’s volume contraction are clearly in contrast. The main funds’ intent to go long is still unmistakable. The current consolidation is merely digesting short-term profit-taking, building strength for a further push higher.
On the trading approach, continue to maintain a bullish bias. The current sideways range is a good opportunity for buying on dips. As long as the key support level is not broken, you can continue holding long positions. The upside space has already opened up, and the next target is the expansion range above the previous high.
Big Cake trading strategy: Long near 77,900-77,400, target 79,500
Second Cake trading strategy: Long near 2,290-2,280, target 2,340