7.11 BTC: Push higher and leave a long upper wick under pressure; in the short term, it leans toward a pullback and adjustment

$BTC
Entry: around 645-649; then watch the 656 area; look for 634-625

Clear K-line sell pressure: On the 1-hour timeframe, at the 64680 area, a high-volume bearish candle with a long upper wick closed—this is a typical “pushed up and met the top” signal. Profit-taking orders and trapped positions above are concentrated in selling; buyer support is insufficient, so it is unlikely to break through this resistance level directly in the short term

Bollinger Band momentum has waned: After price touched the upper Bollinger band, it quickly fell back. The upper band flattened and turned; the Bollinger Band opening for the rise shifted to narrowing. Upward momentum has been exhausted in stages, and the market has a need to return and repair toward the middle band (63448)

Weak rebound with low follow-through: After the pullback, the sideways consolidation repair lacked volume support. Price has been unable to hold steadily above 64300. This is a weak consolidation pattern; the longer it stays stuck without breaking up, the more the probability of a move downward to test again will continue to increase

The broader trend hasn’t reversed: Currently, the overall market is still in the rebound-and-repair phase following the daily down move. The medium-term downtrend hasn’t changed. After a rebound into a key resistance zone, there is naturally a need for pullbacks to digest#美伊战争阴云再起