BTC Market Analysis at 1:00 AM on July 5, 2026 #BTC

The current market is exactly at a descending trendline as shown in the chart. Although the bulls are still dominant, I will not chase longs at this level; I'll wait for a pullback to go long. The 63000 short mentioned last night offered a 600-point profit, and I noted to use cost protection, which wouldn't lead to a loss. This afternoon, I called an instant order to short at 62600, but due to the small timeframe showing lower highs and lows, I was trapped by a new high, resulting in a 200-400 point loss. If you haven't exited yet, you can still hold and observe the price reaction at this level. The current zone up to 63300 is still a short entry level. If it holds, the target remains 61000-59500, offering a favorable risk-reward ratio. The stop loss around 63500 is only a few hundred points, risking a few hundred to gain 2000-3000 points. That is much better than chasing longs at this level. If it breaks above, the short-term short at 64300 can be observed for price action; go short on the right side. If it breaks directly, do not trade. If a right-side opportunity appears, reduce the short position with profit and switch to cost protection. 65600-66000 is a key level; also observe price action to short on the right side; this is a structural short level. If it pulls back directly from this level, it is safer to wait for 60000-58500 to add positions long, with a stop loss at a new low, aiming above 65000. Short-term long opportunities are around 61000; observe price action before entering, preferring the right side. If it breaks below and recovers, enter, and use cost protection once in profit. Remember to set a stop loss.