7.20 Lu Hong Big Cake trading idea


Over the weekend, the Big Cake was trapped in a box range and kept bouncing back and forth throughout. Late yesterday evening, it surged to around 64,920, met resistance and pulled back again, then went into another range-bound consolidation.
In the 4-hour Bollinger Bands, the midline at 64,100 forms strong support, while the upper band at 65,100 is the short-term ceiling. The MACD red histogram has been continuously shrinking, and bullish momentum is clearly exhausting; the upside rebound space is extremely limited.
Trading idea reference:
Go short directly within the 64,800-65,100 range.
First target: 64,100; if it breaks, watch for 63,000 support at the lower band.
BTC2.26%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned