July 3 Bitcoin Market Analysis



After yesterday's surge, Bitcoin's upward momentum gradually faded, with insufficient follow-through for a rebound. The current price is facing direct resistance from the daily Bollinger Band midline.

During the night session, it was already clear that the 61800 area is a heavy resistance zone, suitable for short positions. Subsequent market recovery continued to weaken, with the price oscillating within a narrow range over a long period.

Based on recent market patterns, price plunges with wicks followed by rebounds are common. At this stage, taking short positions near key resistance levels offers higher trading safety.

Trading Plan: Enter short positions when the price rebounds to the 61800-62300 range.
Partial profit-taking: First target 60800, second target 59000. If shorts break through with volume, further target 57800#btc
BTC1.18%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned