7.12 BTC strategy

Overnight into this morning, the market surged higher and then pulled back, followed by a sharp sell-off. Bullish momentum has exhausted, with bears holding an absolute upper hand; the trend is prone to fall rather than rise. The current low-level consolidation is a bearish continuation pattern—technical bounces will not change the downward trend.

In terms of execution, keep placing sell orders on rallies and wait for the rebound to reach the resistance level before entering. Avoid chasing shorts and never bottom-fish from the left side. Strategically, build the position in batches with short entries, set the stop-loss at the upper edge of the range, and target the prior low support directly. If the level is broken decisively, hold; once there is a breakout above resistance with increased volume, promptly stop out and exit, strictly adhering to risk-control red lines.

Reference short entry zone: 64,500-65,200.