7.3 Afternoon Bitcoin Market Analysis

In the early morning, the Bitcoin price stabilized above 61000. During this period, the pullback and rebound did not show much recovery strength, and there were no frequent long upper or lower wicks, indicating relatively steady price movement and lower market participation. In the following morning session, the market continued to trade in a narrow range, still moving around the 61200-61800 area. “Yitia” stayed stable above 1690, but “Doutou”’s trend is on the stronger side, slowly climbing upward in a positive direction. The market has never kept rising in one direction endlessly, nor has it kept falling continuously—alternating up and down is an age-old rule.

At the current “big cake” (BTC) 1-hour timeframe, the chart shows a typical structure of high-level sideways consolidation with shrinking volume. The resistance zone above is 61800-62000, while the first support below is 61000-61500. The current price is exactly trapped in between, unable to go either higher or lower. If the market builds up strength during the range-bound movement and then breaks out above 62000 with increased volume, it may open up room to the upside. Conversely, if the range-bound period drags on too long and the ability to absorb and sustain prices is insufficient, it may pull back to 61000—or even lower—to find support. It is recommended not to chase “Doutou” before a volume-backed breakout signal appears in the 61800-62000 area. If it pulls back to 61000-61500 and a stop-hunting (bottoming) candlestick forms, you can try a light long position, but you must strictly set and carry your stop loss. During the sideways consolidation phase, do not bet on a direction—wait for the market to choose. $BTC #非农爆冷打压加息预期