7.13 ten thousand early market insights

Recently I directly laid out BTC’s price action clearly for everyone. These days it has been stuck the whole time in the 63,500–64,500 range, getting pulled back and forth. If it drops, it can’t break the 63,500 support at all. If it tries to rise, it also can’t stand firm at the 64,500 level. To put it simply, in the short term it’s a narrow-range consolidation, whipping back and forth. Don’t chase pumps or sell off in panic—otherwise you’ll just get beaten around.

From the four-hour Bollinger Bands, you can see the trick at a glance: the channel has been continuously contracting and narrowing. The middle-lower band steadily supports upward, while only the upper band is pressing down on price. Right now, the current price is exactly sitting on the Bollinger middle band—the line between long and short life and death.

As long as price doesn’t break down and lose volume below the middle band, the big direction is firmly to go long in line with the trend. Hold your positions and make your low-level entries, and don’t get washed out by short-term wick spikes.

Above resistance zone: 64,500–66,000
Below support zone: 63,000–61,500

Trading route
If it retraces to 63,200–63,700, the first target is to see 64,500
For the long-term, just look at 67,000
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