#Bitcoin


Today's 7.7 Market Analysis and Ideas
Intraday resistance: near 64500
Intraday support: near 63200

Bitcoin quickly recovered after a low-level wick last night, and a large bullish candle directly changed the short-term structure. Currently consolidating above 64000, indicating that bullish initiative remains, but after a continuous surge, selling pressure above 64600 is starting to suppress the pace. In the short term, a pullback and repair are likely to clean out the chasing long positions below, before determining whether it can continue to hit higher levels. So the current idea is simple: short-term high-level consolidation with a bullish bias, but don't chase longs. First, look for a spike-up followed by a pullback and repair.
Suggestion: Watch near 63200; if it stops falling and rebounds, consider going long at lows. $BTC
BTC0.42%
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