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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!
$SOL