$BTC BTC surged again to 64,600; will it continue to break through or retrace?

Yesterday, I posted and told everyone that BTC would undergo a deep correction. The first target is around 62,000, the second around 60,800, and the third around 59,500 (the extreme limit). In the end, BTC reached around 61,200, close to the 60,800 I mentioned, essentially hitting the first two targets I indicated, largely in line with my expectations. 59,500 is the extreme limit, and even if it goes there, it's unlikely to drop straight through in one go. So, will it revisit 60,800 and 59,500 later?

First, let’s talk about the strong rebound after yesterday’s drop to around 61,200. In fact, I believe a deeper correction should have continued yesterday, targeting 60,800 or even 59,500. However, too many people were shorting yesterday, and a large amount of liquidity followed the decline. That’s why yesterday’s rebound was so sharp and fierce—it was meant to trap and liquidate short sellers, preventing them from hesitating and fleeing. So, the price was quickly pushed up. Actually, the rebound yesterday should have ended around 63,900, forming a secondary top. Generally, after a secondary top, there is a decent crash. But there was still good liquidity around 64,500, so a push in the early morning around 5-6 o’clock to liquidate shorts was followed by a pullback. In fact, the entire rebound process was mainly about hunting short positions and their stops, not spot buying from the bottom. This type of move is relatively weak. Therefore, I still expect a correction today.

However, many people see a decent daily candle that looks particularly strong, but we also need to consider another perspective. Yesterday’s volume was huge, and while the price didn’t drop, it also didn’t rise much. From 64,600 to 64,000, it only gained 600 points, indicating that there was still selling pressure and distribution. So, I believe the upward momentum here is insufficient, and a correction is still ahead. Where will the correction go? Still, as I mentioned earlier, two positions: one is 60,800, and the other is a break below 59,500. Currently, most of the liquidity is around 60,800, so I’ve always thought a hunt around 60,800 is necessary.

$SOL Solana (SOL) remains a strong player in this cycle, with its on-chain ecosystem heat continuing to rise. Multiple positive catalysts landed in July, with various factors supporting it. On the technical side, the RSI indicator shows bullish momentum recovering, further expanding Conan’s upside potential. On-chain meme themes related to Trump and the Conan staking ecosystem are extremely popular. The international Conan community continues to deepen its efforts, developing steadily with progress. Seize the opportunity to get on board and don’t fall behind!🚀🚀🚀🍕🍕🍕#Strategy上周减持3588枚BTC #GUSD年化升至3.8%