Evening analysis on July 9

The bearish trend framework on the 4-hour level has not yet been reversed; the shrinking bearish bars indicate that selling pressure at lows has somewhat eased, giving rise to the current rebound recovery. However, the difference between the two moving averages remains large, and the overall bearish momentum still holds an advantage. This rebound is more of a technical retracement within the downtrend, and no signal for a reversal to strength has been established yet. After the previous rally to a stage high of 63,259.50, the price began to decline. Today, it dipped to a low of 61,525.90, found support, and printed a bullish candle, recovering from the earlier decline. At present, the rebound height has not yet broken through the key resistance level of the previous decline. The dense trading zone of previous bearish candles overhead will create layers of selling pressure, limiting the upside. Structurally, this is tentatively judged as a weak retracement, with strong upside resistance. Those shorting this evening should manage their positions accordingly: As I said yesterday,

Remember: when even the vegetable market auntie starts chatting with you about "the US-Iran conflict causing $BTC to drop," you should be cautious. Yifan personally suggests shorting around 63,100-63,900, targeting around 62,000-61,300.$SPCXB $BTC $ETH