7.6 Monday morning market outlook

Entering July, the short-term rebound inflection point of the market has basically been completed. This round of upward movement touched a high near 63450, roughly reaching the previously predicted resistance level of 63500, after which the bulls directly lost momentum and turned downward. On the 15-minute level, after completing the upward move, the market continued to decline with oscillation, with highs gradually moving lower. The short-term rebound momentum has been mostly exhausted, and the market has entered a phase of pressure consolidation.

On the daily timeframe, the bearish overall structure is stable, and there has been no reversal of the previous major downtrend. This wave of staged rebound is just a brief recovery driven by the non-farm payroll data. At present, the price is oscillating in the middle of the range, with upward strength becoming weaker. The key heavy resistance above is locked at 63800. As long as the market cannot firmly break through this level, the overall market should be treated with a bearish mindset from highs.

Operations

Throughout the entire process, rely on the resistance area above to position for short entries on rebounds. Do not change the strategy unless the 63800 resistance is broken. On short-term rebounds, directly enter short positions in batches when the price reaches the 63300-63800 range. The first short-term target for the decline is the support level at 62400. Once the support below is broken through in the trend, it will further open up downward space, extending the trend toward 61800.

Do not be misled by the short-term small fluctuations; the room for rebounds is very limited. The market's center of gravity will gradually move lower going forward. Strictly control positions in operations, mainly take short positions on highs, and try to avoid short-term chasing longs to bet on rebounds. $BTC $ETH #非农爆冷打压加息预期