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Midday “Double Cake” Analysis
“Double Cake” trades in tandem with Bitcoin’s narrow-range, overall staying weak and following without an independent trend; range trading is the main focus.
Key levels for the day
• Resistance above: 2340-2355
If it touches resistance and faces pressure, short first and look for a pullback to 2320; if it gains volume and holds steady, then target 2380.
• Support below: 2310-2290
On a dip, stabilize and buy in batches at lower levels; stop loss at 2280; if it effectively breaks below 2290, then follow the move down to 2250.
Trading ideas
Follow Bitcoin’s rhythm—keep position size light in a ranging market. If key levels aren’t broken, sell high and buy low within the range; if a level is broken, act decisively and follow the trend without going against it.$ETH