7.2 BTC Early Morning Analysis

In this round, the short-term violent rally pushed as high as 61342.8. After breaking upward, it failed to hold the higher level; a single long upper-wick big bullish candle directly and quickly retraced. This indicates that sell pressure above is extremely strong—bulls are unable to hold the gains. A long upper wick is a typical short-term top signal.

In the early stage, the market showed a low-level rebound and repair. After dipping to a low of 57750, it surged higher, but the rally then pulled back. This suggests that the rebound phase of this round has ended for now. After the bulls become overextended, bearish strength starts to dominate the market.

Current price is 60258. The pullback from the high is relatively large, and it is clearly under pressure; short-term upside room has been greatly compressed.

It is suggested to short around 60800-61000 on a rebound. The first target is 59000. A break below looks to confirm the key low of 57750$BTC $ETH