On the early morning of Big Cake $BTC , a tug-of-war between bulls and bears played out, with the price initially attempting to surge to $105,000 but failing and being shot down, then crashing to $103,500 to enter a consolidation mode. The chart is currently showing a 'triangle kill' — the Bollinger Bands on the 4-hour chart are starting to tighten, with the upper band pressing down on the head, while the middle and lower bands are supporting the bottom upwards, as the market maker locks the price in a narrow channel of $103,500 to $105,000, waiting for a big move.
Key Focus
• 4-hour level: The price is stuck between the middle band ($104,200) and the upper band ($105,300), with the MACD volume bars continuing to shrink, indicating a weakening bullish momentum.
• The 1-hour chart is more exciting: the resistance level has shifted from $105,000 down to $104,800, and the support level has risen from $103,500 up to $103,800, with the consolidation range tightening.
• On-chain alerts: A wall of sell orders of 23,000 BTC has accumulated above $105,000, while below $103,500, there are only sparse buyers.
In terms of operation, don't rush to take sides; wait for the triangle zone to break before taking action. Aggressive traders can place long orders at $103,800, with stop-loss hidden in the basement at $103,300; if you want to short at the peak, wait for the price to spike to $104,800 before opening a short position, and give up if it breaks $105,300.
Remember, this kind of meat grinder market is specifically for treating various itchy hands. Set your stop-loss orders well before going to sleep, and be careful of the market maker inserting needles to wash the market in the middle of the night!
Because having been rained on, I want to help the newbies who just entered the market and avoid the maximum risk for everyone!!!
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