Bitcoin Market Analysis for July 7

Last night’s idea of going short near 64500 has played out, as the price tried to break 64500 but was rejected, with selling pressure continuing to weigh on the market.

Today, focus on the support zone of 62000-62500. The strength of buying in this range will directly dictate short-term trends: if the price holds this support area, the current rebound structure remains intact, and it could later challenge the 65500 high.

The first resistance level remains 64000. There are two scenarios with corresponding strategies:

1. Weak scenario: if the price closes below the 62000 support, the next key support shifts to the 60600 area;

2. Strong scenario: if volume breaks above the 64000 resistance, you can go long with the trend and target 65500 on the upside. #btc