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7.5 Big-BTC Evening Analysis
Big-BTC maintains a bullish trend of steadily stepping higher. After the price reached the 63200 high, the bulls’ rallying momentum continued to weaken, and a bearish CHoCH structure formed on the chart, locking in the short-term pressure high. The market then pulled back and began ranging, consolidating around the moving-average zone.
At this stage, the overall upward trend remains intact. The short-term rising channel continues to be effective, and the moving-average system stays arranged in an upward, bullish configuration. The coin price steadily holds above the two support levels at 62200 and 62500.
To completely end this round of bullish action, a candle body must effectively break through the 62000 core support, while also forming a bearish reversal CHoCH pattern.
It is recommended to wait for the price to retrace around 62000-62500 to go long. Targets are 63200; after a breakout, look toward 64300. $BTC $ETH
BTC maintains a bullish trend of stepping higher. After the price reached the 63200 high, the upward momentum from the bulls continued to weaken. The chart formed a bearish CHoCH structure, locking in the short-term pressure high, and the market subsequently pulled back to trade in a range around the moving average zone, consolidating and building strength.
At this stage, the overall uptrend remains intact. The short-term rising channel continues to work effectively, and the moving average system stays arranged in a bullish upward formation. The coin price is steadily holding the two support levels at 62200 and 62500.
To completely end this round of the bullish trend, a bullish K-line body must effectively break through the 62000 core support, while also printing a bearish reversal CHoCH pattern.
It is recommended to wait for the price to retrace and go long around 62000-62500. The target is 63200, and after the breakout, watch for 64300. $BTC $ETH