Morning thoughts for July 7

A round of strong upward momentum has ended, and the market is oscillating and consolidating at high levels. After prices hit a stage high, the upward momentum weakened. Long and short positions are locked in a tug-of-war, with the price pulling back after a surge and consolidating sideways. The short-term unilateral uptrend has ended, transitioning into range-bound oscillation, awaiting the next directional choice.

The high-level oscillation continues to drain bullish momentum, with heavy resistance above. Short-term overbought indicators need to be repaired, coupled with profit-taking exits adding selling pressure, the likelihood of a pullback and adjustment increases.

Suggestion

Big brother: bounce to 64500, short at resistance 65500, targets below 62500, 61000.

Second brother: bounce to 1820, short at resistance 1870, targets below 1750, 1700.
$BTC