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7.8 Bitcoin morning analysis
At the 4-hour level, after rising from 60070 to a stage high of 64729, which marked the peak of this round of increase, the upward momentum of the bulls saw a clear discontinuity.
When the price hit the 64729 high and formed a long upper shadow exhaustion candlestick, it indicated a concentrated release of selling pressure from above; subsequently, the rebound highs gradually shifted lower, with each rally failing to surpass the previous high. The bullish counterattack momentum continued to weaken, a high-level stalling structure took shape, and the upward driving force disappeared.
Go short when the price rebounds to around 64000-64800, target 63000, 62000$BTC $ETH