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7.7 Morning BTC Market Analysis
Yesterday, BTC opened at 625, rose to 639 in the early session, faced resistance and pulled back, and then dipped to a low of 613 in the evening.
Previously emphasized repeatedly that a sharp drop is a good opportunity to buy low. As expected, the market bottomed out and reversed, violently surging to break through the previous high to 646. It is now fluctuating around 642, and the target of 642-648 seen early this morning has been perfectly achieved.
The 4-hour candle broke above the upper Bollinger Band, with the channel expanding slightly. Short-term bullish momentum has weakened somewhat, and a small upward push will be followed by a pullback, with limited upside.
Resistance: 650-660
Support: 620-610#btc $BTC