7.13 Two Cakes $ETH short idea

Entry: 1810 - 1845 open short in batches
Defensive stop-loss: above 1870
First target: 1785 - 1770
Second target: 1745 - 1720

In the early session, Two Cakes surged up at high speed, topping at 1848 (the intraday high). After that, incremental long inflows directly ran out, and short-term chasing longs were fully trapped. Then a sustained, oscillating pullback began. On the board, bullish momentum was completely exhausted; every rebound came with profit-taking dumping and sell-offs. The market is linked with Big Cake, which also entered a correction cycle. After a short-term explosive rally, indicators are severely overbought, and a large-scale pullback is needed to digest the heavy congestion of trapped long positions at high levels and the short-term profit-taking supply. The zone above 1810-1845 is the day’s heavy pressure resistance area, with trapped positions concentrated within this range. When price rebounds and touches this area, the sell pressure will release in a concentrated manner, and upside room is tightly locked down. Without strong funds entering, it’s difficult to break above the previous high again. The main idea for today continues the trend-following high-short approach: widen the entry, stop-loss, and take-profit ranges, place limit sell orders in batches to build the short position, and bet on a deep pullback on the swing after this round of rally to highs. #GateUS合规扩展佛罗里达