7.10 Friday morning Bitcoin outlook—being bearish and shorting remains unchanged

Overnight, the same plot repeated: with 630 as the center, price has continued to trade in a tight range, neither rising nor falling. This is where patience is tested most. Right now, Bitcoin is still consolidating around 633.

In the short term, after yesterday’s dip to 616, it climbed gradually, but the rebound has limited momentum. The rebound is not a reversal. Meanwhile, on the 4-hour chart overall, the trend is still bearish, so in the morning, continue to initiate shorts from high levels.

Reference: short near 640, look down at the 620–610 area.