7.5 Bitcoin Evening Analysis

Bitcoin maintains a bullish trend with gradually rising levels. After the price hit a high of 63,200, the upward momentum continued to weaken, forming a bearish CHoCH structure on the chart, locking in the short-term resistance high. The price subsequently pulled back to the moving average range for consolidation.

At this stage, the overall upward trend remains intact, the short-term upward channel remains valid, the moving average system maintains a bullish alignment, and the coin price firmly holds the two support levels of 62,200 and 62,500.

To completely end this round of bullish market, the core support of 62,000 needs to be effectively broken by a solid bearish K-line, while simultaneously forming a bearish reversal CHoCH pattern.

It is recommended to wait for the price to retrace to around 62,000-62,500 and go long, with a target of 63,200, and after breaking through, looking at 64,300. $BTC $GT