Tuesday, July 7th BTC Morning Thoughts

Overnight, the three major US stock indexes closed higher, with the Nasdaq surging 1.12%. The chip and technology sectors collectively broke out. Combined with the market's rising expectations of a Fed rate cut in September and a slight decline in US Treasury yields, Bitcoin received sustained emotional support. BTC conveniently stood at the 64,000 mark, staging a round of technical rebound and recovery.
From a technical perspective, the first strong resistance in the short term lies in the 64,500-65,000 USD range, which is also the upper Bollinger Band overlapping with the previous dense accumulation zone. For the bulls to open upward space, they must break and hold above this range with volume; otherwise, it is highly likely to surge and then fall. The medium-term key resistance looks to the 65,500 line, a major daily-level pressure level. The short-term core support falls in the 63,000-63,300 USD range, and 62,500 is the key dividing line for the strength of this rebound. Once it effectively breaks below, the short-term bullish rhythm will be loosened, and the price will return to test the 62,000 mark. On the 4-hour level, the MACD red bars are gradually shortening, indicating that bullish momentum has begun to show signs of weakening. The price is near the upper band and needs a pullback to repair. The medium- and long-term moving averages are still under pressure above, and the long-term bearish structure has not been completely reversed.
Operation suggestion: Short at 640-645, target 625, if broken then see 615$BTC $ETH $SOL