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April 22 Double Cake Analysis
The 1-hour level shows a sharp rise followed by a quick pullback. The Bollinger Bands indicator shows that the middle band at 2313 forms short-term support, while the upper band at 2330 forms strong resistance. Price is oscillating and weakening within the Bollinger Bands range. After the earlier rally pushed up to the upper band, the long momentum quickly faded, and a high-level bearish candle formed; the upward strength in the short term is insufficient.
A choppy, sideways pattern is emerging. There is no clear one-way trend in the short term, so the strategy is mainly to short near the highs. Be cautious about the risk of range-bound fluctuations as the price repeatedly tests support levels. If the price breaks below the lower band support, it will open up further downside room. If the price holds above the middle band, the range-bound oscillation will continue. Overall, short-term bearish strength is gradually increasing, so closely monitor the breakdown of key support.
Trading suggestion: Short between 2350-2380, targets 2270-2200.