7.7 Bole Evening Market Thoughts

Today's price dipped and then rebounded slightly. The hourly short-term moving averages are about to form a turning upward signal, but the medium and long-term moving averages continue to suppress upward space. After a sharp decline earlier, trading activity has significantly cooled down. At this stage, the market is mainly in a range-bound consolidation, only suitable for quick short-term trades, not for holding heavy long-term unilateral positions.

The future market turning point is clear: only if the price holds above the medium and long-term moving average resistance level will the upward momentum reopen; once the previous low support is lost, a deeper round of correction will follow.

Short-term trading reference: When the price touches the 63500-64200 range, consider taking short positions at highs. The first downside target is 61200. The second target is 60000$BTC