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Market trend analysis: $BTC (2026-7-1)
The market broke through the major support level yesterday: around 59400. Now support has turned into resistance. You can wait for a pullback to the resistance level and then go short.📉
On a larger timeframe, from the daily to the weekly chart, I don't see particularly good trading opportunities because the levels have been broken but without accelerated decline, so it's hard to judge whether the drop will continue. From a risk-reward perspective, shorting is not cost-effective.
All we can do now is follow the trend, wait for a rebound to the resistance level and short, which is also the safest approach. ‼️