7.20 W2 Cake Order Book Layout

W2 cake saw intraday high-level choppy consolidation. The short-term structure remains complete, but overhead pressure is gradually drawing nearer, so chasing the rally is not cost-effective.

Price is trading around 1873. The AVL moving averages around 1873 are basically flat. On the 4-hour timeframe, the K-line center of gravity is slowly moving upward, but the strength of the rebound is weakening. Above 1885-1895 is the 24h high zone (24h high 1891.62) and also a key resistance band. If the rebound moves into this area but cannot break through with increased volume, consider entering in the opposite direction to take control.

Downside support is concentrated in the 1850-1860 area. If price pulls back to this zone and holds, you can lightly look for a rebound to attempt a short-term correction.

Trading ranges:

· Long squeeze: 1855-1865 lightly try a long; stop-loss 1845; targets 1880/1890
· Short control: 1885-1895 wait for a counter-entry; stop-loss 1905; targets 1870/1855

Key range: 1855-1895
Bias: short rebound; be cautious near resistance $ETH #PreIPOs第二期OpenAI认购