Wednesday, August 6th Big Cake Afternoon Update:
In the 4-hour cycle, the price of Big Cake seems to be trapped in a small box between 113500 and 114000, unable to move up or down, with key resistance and support levels stable as ever. The technical indicators DIF and DEA are secretly converging below the zero axis, the red bars are getting shorter, and the bearish momentum is almost exhausted, suggesting a rebound may be on the way.
The coin price is closely following EMA7 and EMA30, but is far from EMA120. The short-term trend is slightly weak, and in the medium to long term, we need to see if it can stabilize above EMA30.
Operation Suggestions:
Buy Big Cake at 114000 - 114500, target around 115500.
Buy Second Cake at 3580 - 3600, target around 3680.
