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7.8 Wednesday Morning Bitcoin Brief
Overnight, it surged above 640 again but still failed to sustain. Yesterday, a short near 640 was also repeatedly signaled, and currently, the lowest point is around 628.
Structurally, the bullish upward movement is not sustained, reconfirming that the rebound is not a reversal. In the short term, Bitcoin is moving in a high rebound range but lacks upward momentum. Clearly, the minor-level rebound is a corrective move after the decline.
For intraday reference, short near 635 and 640, looking down at 615-607.