Is the bull trend for the “big cake” still here? The carnival of the bulls is coming?

Right now, the big cake has been stuck in a fixed range, chopping sideways and oscillating back and forth. Everyone doesn’t need to pay attention to the two sharp downside “needle” drops that briefly happened yesterday—they’re not very meaningful as a reference. From the hourly chart, it’s clear that the big cake’s lows have been gradually rising. Although it hasn’t yet pushed out to a new high, the momentum for an overall rebound has already started to build.

As long as, during the subsequent pullback, it does not break below 77483—the bottom of this range—there is no risk of a big drop, and the bulls won’t weaken. Previously, the big cake inserted two short-term sharp drop needles: the first time it directly fell to 76500, and the second time it only dropped to 76900 before snapping back. The low was higher the second time than the first, which is enough to show that the bulls can’t be smashed down, and the market doesn’t want to keep falling.

Also, after two consecutive declines, both times it formed a hammer candle indicating a dip-buying rebound. This is a signal that support below is strong and that the “dog” is holding the market. Now, if the big cake wants to start an uptrend, it must break through 78575, the top of this range. Only after it holds that level will there be another chance to surge again toward the previous high at 79444. In the worst case, you’d just accept a pullback to 76500. As long as this key floor isn’t broken, the overall price action remains within a controllable range, and in the future, it’s very likely to keep grinding in range-bound consolidation and find direction.

$BTC For positioning: go long at 76520-76130 to enter the “bull order.” For targets: the resistance overhead is around 77990. If it breaks, continue looking higher toward 78600-79500, and defend with a stop at 800 points.
For support, just keep an eye on 77356, 76521, and 74968.

$ETH As for Ethereum, the trend is much weaker. Yesterday it was dragged down by the big cake’s sharp drop, and the original ascending triangle setup was broken. Now, support at 2289 will most likely not hold. Once it breaks, it will retreat back to the 2236 area to retest the lows. Only if it rises back above 2333 and returns to the triangle range will there be hope for a stop-the-bleed rebound; otherwise, it will keep weakening and falling continuously.