July 18th Big Cake Market Outlook on the Silk Road

Last night, the big cake did not continue its pullback pattern; instead, after an unsuccessful attempt to break through the 117,000 support, it began to rise again, reaching a peak of around 120,900 this morning, consistent with yesterday's target range. The short-term fluctuation could yield a gain of 1,000 today.

With a slight increase this morning, the big cake shows signs of recovery from a daily perspective, and the downward momentum is starting to weaken. However, from the four-hour chart, there is still a slight need for consolidation. After this consolidation, further upward movement is expected. Currently, the overall market sentiment is rising due to the active dynamics of big cake and Ethereum, indicating potential changes in the patterns of the big cake and others. The focus remains on low volatility for the main trades and high-position short fluctuations as a supplement. Continue to monitor fundamental news and the process of interest rate cuts from the Federal Reserve throughout the day.

For today, the short-term support for the big cake is seen at 117,500-118,500, and small positions can be considered nearby; the short-term resistance is seen at 123,000-125,000, with small fluctuations also possible nearby. (Market changes quickly, remember to have protections in place)

(Personal experience share, for reference only ❀) $BTC