7.2 BTC Morning Analysis

On the 1-hour cycle, the bullish push has topped out with clear signals. After the price surged to 61316, a very long upper-shadow candlestick printed. The bulls lack strength to hold the high level, and above the 61000 range, large sell orders worth tens of millions of dollars are lined up in advance—heavy selling pressure directly suppresses further upside space.

The KDJ indicator has entered the overbought zone. Bullish momentum has been overstretched, and there is a strong need for a downward dead-cross correction. The current round of continuous rally that started from 58294 has built up a large amount of profit-taking positions. After reaching the high, the inclination to realize profits and exit has increased, while the chase-high buying demand continues to decline.

The 60800 level has shifted from support to strong rebound resistance. Any subsequent rebound into the 60800-61000 range will face renewed pressure.

The short-term core support is at the 60300 moving average. If the market breaks below it with increased volume, it will further test the 59800 trend lifeline, and this round of short-term bullish conditions will be considered to have ended at least on a phase basis. With overbought indicators aligning with top-side sell-pressure, the market does not have the conditions for sustained upside. Every rebound is a window for the bears to set up—be alert to the risk of an accelerated pullback once support is lost.

The pullback targets are 69500-58200.$BTC $GT $GT #Gate股票转仓功能上线 #Strategy拟回购股票