7.16 Afternoon Big Cake Auntie Market Analysis

Looking back at the morning trend, the big cake experienced an overnight rise, reaching the 118200 line before encountering resistance and falling back to a low of 117000. It then consolidated in a narrow range around this interval, with a temporary balance between bulls and bears.

From the hourly Bollinger Bands perspective, the three lines are moving horizontally, indicating that the short-term market has entered a sideways consolidation, with volatility significantly narrowing. The price is currently operating between the middle and upper bands, showing a strong consolidation, but there is short-term resistance near the upper band, limiting the upward space until a breakthrough occurs.

The big cake can be positioned around: 116700-116200, targeting around 118600-119100,

Auntie can be positioned around: 3070-3050, looking at around 3170-3210. #btc