7.12 Morning View

Good morning, and have a great weekend! Last night, there was a short-term spike dipping to around 63,750 where it found support, then it consolidated and bounced back. Currently it continues to trade in a range around 64,200. On the 1-hour cycle the high is 64,678, and on the 15-minute cycle the high is 64,489—both have been steadily moving lower. Multiple attempts to break above the 64,700 area have failed to make a new high. The pressure at the highs is obvious, and the upward momentum for longs continues to weaken.

The prior rally has already consumed a large amount of long-side buying power. In the 64,400-64,700 range, there is a large stash of trapped positions, with heavier sell pressure. The rebound at lower levels is only an oversold recovery; there is no new incremental capital entering, so it is difficult to form sustained upward advances, and the short-side force is gradually being released.

Multi-timeframe highs continue to step down. The 64,700 area provides strong resistance overhead. The short-term rebound lacks strength, so for today the overall approach remains to prioritize buying the rebound and selling at the highs, without blindly chasing to open long positions.

Trading-wise

When it rebounds to around 64,600, the first target is 64,000, the second target is 63,500. After a breakdown, continue to look down toward 63,280#美伊战争阴云再起 $BTC