7.7 Morning Big Cake and Second Cake Market Analysis

Overnight, the big cake slightly retraced to the 1082 area before rebounding to the 1097 line. The short-term trend appears somewhat strong but lacks continuity, so avoid chasing at high levels and first observe the pullback situation.

From the 4-hour chart perspective, with the significant bullish candle's rise, it has successfully broken through the middle band of the Bollinger Bands. However, the Bollinger Bands are in a contraction state, indicating obvious resistance above. The current market shows a small bearish candle retracement signal, suggesting the possibility of further downward movement in the short term. Therefore, the intraday trading strategy recommends prioritizing the continuation performance of shorts and waiting for the price to stabilize after touching key support levels before considering entering a long position.

Personal Suggestions

Big Cake: Watch the range of 109600-110200, look for around 108000.

Second Cake: Watch the range of 2600-2620, target around 2500. $BTC