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7.9 Bitcoin Morning Analysis
Bitcoin first showed a strong bullish move, with the low dipping to 57750.0 before launching a sustained rally, surging to a new phase high of 64729.0. After hitting the high, bullish momentum weakened, and the price began to pull back. The current price sits at 62246.1, representing a high-level correction after a sharp rally.
On the 4-hour chart, consecutive rising highs and lows confirm a clear main uptrend. After facing resistance at 64729, multiple bearish candles appeared, breaking the short-term bullish trend and entering a high-level correction phase. However, the overall medium- to long-term bullish base structure has not been completely destroyed, and this is a normal pullback consolidation after the rally.
Trading suggestion: go short near 63000-63800, with a target of 61000$BTC $ETH