7.12 Midday BTC/Trend Analysis


After BTC’s daily line continuously surged, it closed yesterday with a bearish engulfing-style candle (a real-bodied bearish candle). Near-term selling pressure has been concentratedly released. The current chart has entered a repair rebound.

On the 4-hour chart, the EMA lines remain in a bullish arrangement. Price is holding steadily above the moving averages, and the overall trend is relatively strong. EMA7 forms a key short-term support level.

BTC: place orders in the 63,500-64,000 range, targets 65,200 and 66,200;
Trend: place orders in the 1,780-1,800 range, targets 1,900 and 1,950.

Note:
The above analysis is based on Muyao’s personal opinion. The market changes rapidly; the content is for reference only and does not constitute any investment advice!
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L2AlleyRunner
· 07-12 07:47
The four-hour moving average is still in a bullish alignment, but the daily chart closing with a small bearish candle means caution. I plan to wait for a pullback to 64,000 to confirm before entering; the first target is 65,200.
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MechanicalHummingbird
· 07-12 07:33
Mu Yao’s analysis this round is pretty solid—EMA7 support is indeed crucial. The pending orders near 63,500 have already been set, so hopefully it won’t get a quick wick “sweep” and tag you.
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