Market Overview Analysis: $BTC (2026-7-7)


The daily chart has gone up for 6 consecutive sessions. This rebound has been quite fierce in squeezing short sellers’ liquidity. The major resistance level above still stands. Now it all comes down to how today’s daily candle closes. There are no good short-term trading opportunities. The upside for longs is limited, and **chasing shorts is extremely dangerous**⚠️
This position right now is really awkward. Yesterday saw three consecutive waves—up, down, and then up again—which is a price action with no technical logic. I don’t think I’m the market’s counterparty; I’ll just wait until this trend phase plays out before making a move~
On the bigger picture, the overall trend is still bearish~
BTC2.01%
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