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7.8 BTC Midday Outlook
After the 4-hour chart surged and reached the 64691 high, bullish momentum gradually weakened. The price came under pressure and fell back, with the current price at 62564.4.
At present, there is heavy sell pressure overhead. In the short term, the overall outlook is slightly under pressure, and the market is in a ranging/consolidation pattern. Our approach is to look for stabilization at the lower levels and go long—do not chase lower-price sell/short entries. Wait for a pullback to the support zone and for it to stabilize before going long. Do not enter carelessly before stabilization.
Key Levels
Resistance: 63172
Support: 62245
Strategy Layout
BTC: Stabilize in the 62000-62500 range and go long; the first target is a break and reclaim of 63000, with further upside to look toward 64000.
ETH: Stabilize in the 1720-1740 range and go long; the target is 1770. If it breaks out, look toward 1810.
#BTC #ETH