7.7 BTC Evening Analysis

On the one-hour K-line, after surging to the band high of 64678, the bullish momentum quickly faded, forming a continuous bearish decline structure. The retracement to 62760 completed the concentrated release of bearish momentum, and the current price is building a horizontal consolidation pattern around 63283. The upper Bollinger Band has turned downward, shifting from a previous upward support to a strong resistance level, while the middle Bollinger Band has absorbed the selling pressure and become a key demarcation line for the current long-short battle. The market is in a mid-term repair phase after the decline.

The KDJ indicator has formed a golden cross in the oversold zone, indicating that short-term bearish selling pressure has been cleared, and a technical rebound repair is about to begin. However, the indicator is operating below the 50 midline, meaning the medium-term downtrend has not reversed. This rebound is merely a correction within the downward wave. The first resistance level is at the 63600 dense chip zone, with the ultimate resistance locked at the previous high of 64600, and the defense threshold below is at the bottom turning point of 62760. The market is expected to first rely on the indicator's golden cross for a pulse rebound, then encounter resistance and continue the main downtrend structure. Avoid chasing long positions; instead, prioritize short positions in the resistance zone after the rebound.

Rebound to 64000-64600, short, target 62000-62600.

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