7.1 BTC Midday Strategy Analysis

On the 4-hour chart, the overall market is within a medium-term downward channel. This rebound is merely a technical recovery after oversold conditions, and the price has not broken through the key resistance zone. There is no reversal signal in the main bearish trend. MACD continues to run below the zero line, the rebound lacks volume follow-through, and the middle Bollinger Band forms strong resistance. The larger bearish pattern remains unchanged, and it is more likely that the rebound will face resistance and decline. The bullish rebound lacks momentum.


On the 1-hour cycle, the price quickly retreated after hitting the 59171 level, forming a long upper shadow candle that clearly reflects heavy selling pressure above. MACD red bars continue to shrink, bullish momentum is rapidly weakening, and RSI has turned downward from the overbought zone. Short-term moving averages have not formed solid support, and short-term pullback pressure is gradually increasing. Once the short-term support level is lost, a new round of downward movement will begin.


When the rebound touches the 59800-60600 range, enter short orders in batches, with targets at 58300, then 57800#BTC