Last night, the big cake market experienced severe turbulence, plummeting 6.5%, with a pullback exceeding 6460 points.
This decline was driven by chip pressure and large holders selling off, becoming a double push factor. The big cake faced resistance when hitting a high of 98,580, while Binance spot large holders sold 11.03 million dollars at the 98,500 price level, signaling a clear market peak.
Subsequently, the big cake could not stabilize when retracing to the chip peak of 96,010, quickly falling below the key support level of 93,000. Currently, the market is testing the chip support level of 94,340; if it can effectively hold, there may be a chance to reach up to 96,010; if it breaks, the support level will shift down to 92,000.
The chip peak plays an important role in trading and is a key basis for judging market trends. To gain wealth in trading, one must grasp the movements of the main forces, penetrate the information fog, understand the language of capital, and dance with the institutions in order to remain undefeated.
