In the evening, looking at the four-hour market, Big Cake (BTC) has formed a typical spike-and-retrace structure. Overall, the trend has shifted from the strong upward push in the earlier stage to a rapid pullback after heavy pressure builds at high levels.

$BTC In the morning, bullish funds concentrated and flowed in, driving a continuous uptrend where both price and volume rose together. During this period, pullbacks never broke below the previous low. The bullish trend remained very intact during the surge phase, with the peak reaching near the high point of this round of market. However, after touching a key resistance level, bullish momentum clearly weakened. The price then entered high-level consolidation, and trading volume shifted from volume expanding along with the rise to a contracting (shrinking) state, indicating insufficient bids to take over at high levels. The sell pressure from profit-taking began to release gradually.

On the current chart, a single big bearish candle directly swallowed up most of the gains from the first half of the prior move, and the price quickly retraced back to the key support zone of the earlier uptrend. The short-term trend has already flipped from strong to weak, and the consolidation range at high levels has been broken downward directly. Bearish forces are now dominating the short-term tempo. Overhead resistance is mainly concentrated around the prior range high and near key round-number levels. Downward support corresponds to the platform where this round of rally started. For the subsequent structural repair, the market first needs to stabilize within the support zone before we can further observe the strength of the rebound.