7.10 Afternoon Market View

Looking at the 15-minute, 4-hour, and 8-hour charts, the rally hit strong resistance at 640 and clearly stalled. Since entering July, there have been multiple tests of the overhead resistance, but the bullish momentum remains insufficient. The short-term rebounds are merely buffer corrections during the downtrend and cannot change the bearish trend on the larger timeframes.

On the 15-minute chart, the market is weakening under resistance, with a clear signal of topping stagnation. The resistance above 640 is solid, and selling pressure quickly emerges after small upward moves. On the 4-hour and 8-hour charts, highs are gradually shifting lower, and the downward channel has opened. Every rebound is an opportunity for bearish positioning.

Afternoon strategy: firmly focus on shorting on rebounds. Short with a light 3% position directly above 640, and double the short position in the 646-651 range. First target: 625, second target: 619. After the current topping consolidation phase ends, a deep decline will follow. Be bold in shorting when the rebound arrives, strictly manage position and risk. $BTC $ETH #美股AI概念股普涨