7.9 Bitcoin shorting around 630, target 615/610

If you want to go long, go long around 610, place stop loss at 605, target 620.
Last night, Bitcoin rebounded to around 62300, got pressured again, and dropped—current price is 61999.
From the 1H trend, the price has been moving below MA60 throughout; the short-term moving averages continue to diverge downward, and overall the structure is still a weak consolidation.
Yesterday’s multiple rebounds failed to effectively hold the 62300-62500 area, indicating that sell pressure above remains.
As long as 62500 is not reclaimed, the short-term idea stays centered on selling bounces from above highs. Pay close attention to support around 61500; if it breaks, there’s a chance to continue testing around 61000.
On the news front, the market is still digesting changes in macro expectations. Funds are still focused on the Fed’s subsequent policy path and institutional capital flows. Recently, ETF fund inflows have not shown any clear increase; market sentiment is cautious. Without a new positive catalyst, it’s more likely to maintain a weak, choppy rhythm.
Ye’s thinking is still very clear:
Don’t chase longs above 62000; on rebounds, use the opportunity to prioritize short positions.
If a stop-dive/stop-falling signal appears around 61000, then consider going long following the trend at the low; be sure not to keep chasing and selling back and forth in the range.
Before the trend is established, patience matters more than direction.
The market will always give opportunities, but it only rewards disciplined people. $BTC #btcım