7.11 BTC Market Update & Trading Outlook

BTC’s current price is around 64,000. Overall, the short-term trend is still relatively strong, but it has already entered the prior resistance-testing zone.

From the 4-hour chart, after BTC rebounded from around 57,758, it has already returned to the 64,000 area. The current price is testing the 4-hour moving-average resistance zone. Above, 64,500–65,000 is the first resistance area, and stronger resistance lies at 66,000–67,000. If the price cannot effectively hold above 65,000, it is likely to see a surge higher followed by a pullback.

From the 1-hour chart, this rebound structure for BTC looks relatively complete. The price has been gradually stepping higher from the bottom, and it is currently trading above the moving averages, indicating that the short-term bulls have not clearly broken down. Key support below is at 63,500–63,000, with stronger support at 62,500–62,000.

From the 15-minute chart, BTC is currently consolidating in a range near 64,000 at a high level. After the earlier push higher, it did not continue to expand with volume to open up more space, so the short term likely needs a pullback. This position is not suitable for directly chasing longs. It is better to wait for a pullback to support to go long, or wait for the upside resistance to fail before considering a short.

Main ideas for today:

64,500–65,000 resistance zone: if it does not break through, it is prone to a push higher followed by a pullback.
63,500–63,000 support zone: as long as it does not break down, you can still look for pullback entries to buy at lower levels.

Current bias: short-term bullish; prioritize going long on dips, and use high-side shorts only as a supplementary strategy.