7.7 Early Morning Bitcoin Analysis

Analysis: Short near 643-648, target 635-625, defense 653

Yesterday's market movement was classic. MicroStrategy sold coins, driving the price down to 61297, flushing out all panic positions. In the latter half of the night, positive news lifted the price to 646. First a drop, then a rally, harvesting both long and short positions. After six consecutive bullish daily candles, the market has entered a sensitive phase. Continuous upward movement has accumulated a large number of profit-taking positions. New highs require incremental capital to take over. Yesterday's sharp decline and rally were merely high-level position swaps, not a continuation of the uptrend. Subsequent rebounds to resistance zones should prioritize shorting. The previous high of 646 is a key watershed. If the price cannot hold above it without volume, this round of rebound will top out, and selling pressure will be released in a concentrated manner#GT二季度销毁257万枚 $BTC ‌