The intraday Big Cake (Bŏdà) price action is hard to sum up in one sentence. First, in the early hours it surged strongly, driven by news, rising to around 72,800. Then it entered and maintained a narrow 600-point sideways range consolidation, until the evening when it attempted a second push to probe the previous high at 72,800 but met resistance and pulled back. The lowest point moved down to around 70,700, after which it saw a technical rebound. At midnight, after the order cut off due to a sudden change in shipping conditions, the market’s early-day thinking switched quickly; it signaled to follow through by pulling back to buy on dips, and it publicly displayed buy orders around the 71,400 area. During the course of the session, it repeatedly signaled to firmly hold positions. In the evening, as the shipper news arrived as expected and pushed higher, it simultaneously indicated taking profit by topping out at the highs and locking in gains. For friends who followed the rhythm the whole way through, taking profit from this leg should not be difficult.

From the current price action perspective, after a sharp rise, the Big Cake (Bŏdà) has broadly formed a wide-range oscillation pattern that later narrows into convergence, with a double probe and pullback near the close. On the daily timeframe, intraday it printed small-bodied doji cross lines; after bulls and bears fought, it entered a stage of relatively balanced conditions. The key resistance and support levels on both sides form a strong constraint, and in the short term the trend has entered a consolidation and decision-making window. From the four-hour timeframe, after a round of volume-backed upward movement in the evening, price quickly fell back, completing an effective test of the previous high resistance level. In terms of technical formation, it formed a pressure-bearing structure resembling a double-pin top probe. After price had been rising steadily ahead of time, it has already entered an overbought zone; at the high level, the momentum in the sideways phase continues to accumulate, but follow-through volume is insufficient—so in the short term the price action still has a need for a pullback correction. Looking at the hourly timeframe, you can see that the three Bollinger Bands lines are contracting in sync, and the price action has entered a narrow-range buildup state. After the shipper news broke through the middle band support, it shifted from support to a stage of strong pressure. Price has returned to the previous consolidation range to build and consolidate, while indicators also form a dead cross convergence. The short-term top-signal is confirmed. At midnight, it is very likely that the correction trend will continue. On the Bollinger chart, you can first focus on short dips; however, you should still observe whether the 72,000 area’s test is effective. If it still cannot stand firm despite being weak, that is when it becomes the opportunity to turn bearish.

Big Cake (Bŏdà): Buy on dips around 71,000, up to 72,500.
Ether (Yí Tǎ): Buy on dips around 2,200, up to 2,080. $BTC $ETH #BTC突破71000美元 ‌ ‌ ‌ ‌