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7.3 Friday Muyao Bitcoin Analysis
Bitcoin has rallied from 58,000 to 62,000 over the past three days, leading many to believe the bull market is back, but hidden risks remain.
ETF funds have been consistently flowing out, and the rally is merely short covering with no new capital entering. The resistance at 62,500 is heavy, prices pull back after each spike, and indicators are already overbought—expect a short-term pullback.
Today, the U.S. stock market is closed, so prices will fluctuate. Sell in batches at 62,000–62,500, first target 61,000, then 60,000 if broken.
Disclaimer:
The above analysis is Muyao's personal view. The market changes rapidly. This content is for reference only and does not constitute any investment advice!
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