7.16 Morning “Big Cake” Analysis

Analysis: Look for a rebound to do longs near 650-655, then watch 640-630; set defense at 660.

655 spiked to a high and topped out. At the high level, a large number of chasing long orders were trapped. Each rebound will bring sell-off pressure for getting out of positions, and the upside is locked down. The long-cycle moving averages are trending downward throughout the entire move. The rebound is only a small pullback/repair after a big drop; once the price touches the resistance/pressure zone, it will face selling pressure and fall back. The earlier sell-off came with rising volume, but this rebound has continued on decreasing volume, with no new long funds taking the baton, so the rebound’s staying power is very poor. Short in batches within the wider range to prevent the main force from slightly pumping up and sweeping the short orders—higher room for operational error. $BTC ‌#USDT充值理财双重奏