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7.6 Early Morning Bitcoin Analysis
BTC's evening session experienced narrow-range consolidation around the 63200 zone. The four consecutive bullish daily candles are only a short-term recovery within the downtrend cycle, and the larger trend has not seen a substantive reversal.
Multiple intraday attempts to test resistance at 63500 were met with pullbacks under pressure. Selling pressure continues to be released, incremental bullish capital is gradually waning, and the rebound momentum is insufficient.
Trading Strategy:
When the price rebounds to the 63000-63500 range, short positions can be initiated. The first downside target is 62500, and the second target is 62000.
Disclaimer:
The above analysis is the personal analysis of Muyao. The market changes rapidly. This content is for reference only and does not constitute any investment advice!
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