7.18 Midnight Big Cake Aunt Market Analysis
Looking back at the evening trend, the Big Cake first fell from 119200 to 117400, then rose again to 119100, forming a 'V' shape pattern, and then entered a consolidation phase.
From the hourly Bollinger Bands observation, the three lines are running horizontally, and the Bollinger Bands are converging. This pattern usually indicates that market volatility is gradually narrowing, with both bulls and bears temporarily reaching a relative balance, making it highly likely that the market enters a fluctuating consolidation pattern.
Looking at the MACD indicator, the two lines are intertwined, and the energy bars are close to the zero axis, further confirming the current temporary balance of bullish and bearish forces.
The Big Cake can be positioned around the range of: 117800 - 117300, targeting near 119700 - 120200.
The Second Cake can be positioned around the range of: 3360 - 3320, targeting 3460-3500.