Large Cake July 28 Afternoon Analysis:
Current Market Observation:
The large cake has gained support near 114900, and the bullish forces are gradually pushing the market upward. Recently, the market has shown a moderate but sustained upward trend, and it is once again approaching the key position of 119000. The overall trend remains upward, with some signs of breakthrough. However, in the short term, the price has reached the upper resistance of the oscillation range. If the subsequent trend fails to effectively break through the 121000 mark, the market is likely to continue the oscillation pattern. In this context, it may be considered to attempt to establish short positions near the resistance level; if the resistance range is successfully broken, it is recommended to switch to a trend-following long position.
Four-Hour Chart Technical Analysis:
The price has shown characteristics of oscillation in a range for several days, with effective rebounds occurring each time the support level is tested. Current technical indicators show: after reaching the upper boundary of the range, the upper Bollinger Band shows signs of turning downward; the KDJ indicator has formed a continuous death cross signal; at the same time, the bullish energy bars of the MACD indicator also show a continuous contraction state. Based on the above technical signals, it is recommended to prioritize short positions at high points.
Suggestions:
Short at 119500 - 120000, with a target of 117500 - 118000. $BTC