4.22 Evening Big Pancake Market Outlook

The “Big Pancake” dipped to around 74,700 in the early morning, then stabilized. After that, it surged strongly in a single direction, topping out near 78,400 with a new interim high. Currently, it is consolidating at a high level around 77,900.

After a deep V-shaped reversal, the bulls surged and the lows continued to move higher, but the trading volume at high levels is clearly declining, and overbought conditions are under serious pressure. Upward momentum is rapidly weakening, and the risk of a pullback after a late-afternoon spike is increasing. Overall, the rebound faces heavy resistance—going short on rallies is the main approach, while pullbacks to support are mainly for light long entries.

In terms of structure, after a violent drop, there was a strong rebound for repair. The 15-minute rally shows signs of stalling and signals of a short-term top. Resistance overhead is densely packed, leaving extremely limited room to chase the rally. The larger bearish structure has not been fully reversed, and heavy sell pressure at high levels is starting to concentrate and release.

Trading Suggestions
Short in the 78,500-79,000 range during the rebound, with the first target at 77,200. If it breaks, look further down to 76,800-76,300-75500$BTC $ETH