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7.12 Two Cakes $ETH shorting idea
Entry: 1815 - 1830, enter in batches to short
Defensive stop-loss: above 1840
First target: 1800 - 1790
Second target: 1780 - 1775
After Two Cakes surged to around 1829, bullish momentum clearly weakened; it repeatedly faced selling pressure and dropped back. This is a technical rebound during/after a big sell-off, not a strong reversal trend. In the short term, there is obvious overhead sell pressure; rebound momentum can’t keep up. There isn’t enough chasing-buy demand, and overall it’s in a wide-range consolidation with a weak structure. Rebounds at higher levels still have pullback needs. Today’s core approach is to place short orders in batches based on the overhead resistance zone, aiming to trade a pullback and drop after a failed push higher #GateUS合规扩展佛罗里达